The Zohr effect
Hopes are high of fresh finds in the area
What a difference a day makes. When Eni announced the Zohr discovery in 2015, the whole complexion of the East Mediterranean play changed. By that time, for example, the Cyprus offshore had begun to lose its lustre. The Aphrodite field in Block 12, discovered in December 2011 with reserves of 5 trillion cubic feet of natural gas, remained (and remains) undeveloped. Total withdrew from Block 10, on the maritime border with Egypt in 2015, having given up hope of a commercial discovery, two years after being awarded the licence. But when the third Cyprus licensing round was held in 2016, international oil companies were eager to grab Block 10 and others near the Zohr field. "There's no doubt th

Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs