Consumer durables is a cataloguing of consumer goods that are not essential to be bought very often as they are fashioned in a way so as to last for an extended period of time. Profits in the consumer durables sector were most profoundly…
BMI View: Pledged investment in upstream developments and LNG imports will be crucial to meeting gas
demand over the next five years, while the Zohr discovery could solve Egypt's gas challenges in the long
term. Policy slippage with subsidy reform and payment schedules to oil and gas companies, pose the largest
risk to slowing the positive momentum.
Latest Updates And Key Forecasts
- The fifth well appraising the Zohr discovery was successfully completed after traversing a 180m
continuous gas column in the south west of the structure, confirming the 850bcm resource.
- The Zohr development is on first priority fast-track with Eni still targeting first production from the
initial phase in late 2017. Civil works have reportedly begun.
- BP and Eni have completed the second well on the Baltim discovery in the Greater Nooros Area, and a
further four wells are planned. Production of 3.5bcm is being targeted from 2018.
- BP has taken FID on the Atoll project and is planning to fast-track the project through a tie-back. Phase I
production is expected from H218 at a rate of 3bcm/y.