Egypt paid its USD630mn financial obligation in January to Italian oil and gas company, Eni, to develop the Zohr gas field, Rami Aboul Naga, Assistant Sub-Governor for foreign reserves at the Central Bank (CBE), said on Tuesday. Zohr, discovered by Eni in 2015, is the biggest gas field ever found in the Mediterranean with an estimated 850bn cubic metres of gas in place, and is expected to come into production at end of year. Minister of Petroleum, Tarek Al Molla, said in January that Egypt was committed to repaying the USD3.5bn in arrears to foreign oil companies, but a foreign currency shortage has made the drawing-down of those debts more difficult. (Reuters)