Eni is looking to 'low cost' developments to raise production by 13% between 2016-19 whilst cutting upstream spending by 18%. Egypt's Zohr fits the bill.

Eni has approved development of its giant 23 tcf Zohr gas field in Egypt’s offshore Mediterranean. “We reached FID [final investment decision] only 6 months after discovery, a remarkable result, and we are well on track to start production by the end of 2017,” Eni CEO Claudio Descalzi said during the...