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March 15, 2018, 6:04 a.m. EDT

Eni production From Nooros Field hits record

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By Anthony Shevlin

Eni SpA (ENI.MI) said Thursday that it has strengthened output from the Nooros gas field, with production reaching the highest-ever level recorded by one of the company's fields in Egypt in the past 50 years.

The company said production reached 32 million cubic meters a day, which equals around 215,000 barrels of oil-equivalent.

A 14th well, currently under drilling, will be started up by June and boost production levels further, with Eni saying it hopes to reach 34 million cubic meters a day.

Nooros's development will be optimized in the mid term, following the extension of the development lease that will entail new investments, said Eni. These include the construction of a new trunkline linking Nooros with the El Gamil onshore treatment plant by year-end 2018 and early 2019, as well as the start up of Baltim SW, which Eni holds a 50% stake in through its affiliate IEOC Production BV, the Italian company said.

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