The first developmental phase of Eni’s Zohr gas field will be finalized before end of 2017, Daily News Egypt reported. Petrobel, a subsidiary of Eni, is nearing the formation of PetroSherouk, the company that will oversee the management of the field. Already, the drillship Saipem 10000 arrived at the planned site of the Zohr-2 well, where it will soon begin drilling. EGPC held a meeting with Eni to set the gas price and agreed for it to range between USD 4 and USD5.88 per mmBtu and to be revised two years after initial production. The Oil Ministry is also reported to have informed Eni that it will not be allowed to export any produced gas from the field, unless the amounts are in excess of local demand. (Daily News Egypt, Enterprise)