Italy's Eni discovers huge gas field off Egyptian coast

[sam999]

Italian energy group Eni says it has found one of the world's largest natural gas fields off Egypt's coast.

The company said the area was 1,450m (4,757 feet) beneath the surface and covered 100 sq km (39 sq miles).

It could hold as much as 30 trillion cubic feet of gas, or 5.5 billion barrels of oil equivalent, Eni said.

The company says that the Zohr field "could become one of the world's largest natural-gas finds" and help meet Egypt's gas needs for decades.

"This historic discovery will be able to transform the energy scenario of Egypt," said Claudio Descalzi, chief executive of Eni.

Eni, which has full concession rights to the area, is the biggest foreign energy firm in Africa.

In June, it signed an energy exploration deal with Egypt's oil ministry worth $2bn (£1.5bn) allowing the company to explore in Sinai, the Gulf of Suez, the Mediterranean and areas in the Nile Delta.

Eni's find follows other significant gas discoveries in the Mediterranean in recent years, including by Egypt's neighbour Israel.

Source: BBC

 

[Steven Robert Masatu]

"Africa is the future" hope mnanielewa, fuatilia sasa investors wa Eni lazima utachoka mwenyewe.

 

[Bavaria]

Japan, Holland, Switzerland are amomg the world top economies. But they don't have gas or oil.
Your economy should concetrate in producing what it can do best.
Middle East have alot of oil and gas but they don't enjoy their fruits.

 

[Iconoclastes]

Japan, Holland, Switzerland are amomg the world top economies. But they don't have gas or oil.
Your economy should concetrate in producing what it can do best.
[color=#000ff]Middle East have alot of oil and gas but they don't enjoy their fruits[/color].

They dont, really?

Well, forget those few middle eastern countries in conflict, but consider the ones that are at peace now. They are highly advanced economically.
But look here in Africa. Why shouldnt such countries as Nigeria, DRC,Angola,Tanzania(no offence, but u you felas are so rich!),Cameroon, Sao Tome and Equitorial Guinea etc not be at parity in terms of development with Malasia, Indonesia,Singapore,Spain or even Korea? They have massive deposits of very valuable minerals and even long decades of stability.

 

[Juakali1980]

They dont, really?

Well, forget those few middle eastern countries in conflict, but consider the ones that are at peace now. They are highly advanced economically.
But look here in Africa. Why shouldnt such countries as Nigeria, DRC,Angola,Tanzania(no offence, but u you felas are so rich!),Cameroon, Sao Tome and Equitorial Guinea etc not be at parity in terms of development with Malasia, Indonesia,Singapore,Spain or even Korea? They have massive deposits of very valuable minerals and even long decades of stability.

We know the answer to your question....TRIBALISM AND CORRUPTION...that's what is killing the sub-Saharan nations...

 

[Bavaria]

They dont, really?

Well, forget those few middle eastern countries in conflict, but consider the ones that are at peace now. They are highly advanced economically.
But look here in Africa. Why shouldnt such countries as Nigeria, DRC,Angola,Tanzania(no offence, but u you felas are so rich!),Cameroon, Sao Tome and Equitorial Guinea etc not be at parity in terms of development with Malasia, Indonesia,Singapore,Spain or even Korea? They have massive deposits of very valuable minerals and even long decades of stability.

Tanzania hasn't already exploited gas to the levels of Middle Eastern countries.
But so far i see the majority of countries are not directly benefiting from the industry.
I urge Kenyans not to envy the oil and gas producing countries, you can do better with what you can do best.
Comparative advantage.

 

[Iconoclastes]

We know the answer to your question....TRIBALISM AND CORRUPTION...that's what is killing the sub-Saharan nations...

Africa is unlucky not to have had many intelligent and visionary leaders. They were only in power to serve not their countries, but their own parochial interests.
Look at the DRC, the most minerally rich country, some say in the world.
It was very unfortunate to have men like Moitse Tshombe, Mobutu Seseseko, Laurent Kabila for leaders. And even the current president isnt any better.

Eq.Guinea.....another shame of Africa.

 

[sam999]

Hapo bavaria nina kuunga mkono
Development ni ensuring all basic needs are achieved
Security
Health
Food
Shelter
Education

Alafu you top that with good roads Internet rule of law communication infrastructure n all this at cheaper rates and good weather and climate.... This we surely can achieve ni beauracracy inatushika like Mandera for example has lots of lime and stones that is why most pple wana toka nyeri kuenda quarry za Mandera kuchimba mawe ilhali Mandela yatoshana na south Korea

Ina 1.7mn pple pekee surely

Tukiamua tujengee hawa watu mavyumba in exchange watupe building materials tujengee nchi ama watulease mashamba tufanye ukulima Wat will go wrong its a win win

This is Wat China did its economy is nt measured by goods produced but rather by real estate sector

Manyumba mahospitali mabarabara madarasa yote wanahesabu their value using a standard system alafu wanatop up na produce zao za export upto 1trn $ economy ina mea but situation in africa will remain

A farmer will have 10000acres of desert land to only 7 children nyasi inamea kwa 10acres pekee Hao watoto watamalizana juu ya hyo nyasi kila siku wakipita acres of stones and sand and lime for cement - lack of education

Majuu mzungu anapata samba ekari Mia yote mawe - atatafuta mafuta akikosa aanze kuzalisha mawe yake kuunda ka center near him n call it after him

Na aongeze ville :brianville na aanzishe jamii hapo ndipo masomo yana badilisha maisha Africa utapata vyeti pap Nairobi hyo.... Unasahau uliko toka

TOO SAD

 

[Logikos]

Nadhani you need to take time na kuangalia documentary ya Secret of the Seven Sisters....

Madini, oil n.k. hayanufaishi nchi per se..., bali ni corporations ambazo zina monopoly kwenye hii biashara..., ndio maana nchi kama Nigeria mafuta yamekuwa yakichimbwa kuanzia enzi ila wananchi wanaambulia pollution tupu...

Pia hata mfano wa Diamonds sio scarce kama inavyokuwa perceived bali ni debeers inachimba na kuifadhi Diamonds za kutosha na kuhakikisha ina-control the market...

Kwahio mkuu ni kuna ukweli mkubwa sana kwamba natural resources are a curse in developing countries rather than a blessing

 

[Iconoclastes]

Nadhani you need to take time na kuangalia documentary ya Secret of the Seven Sisters....

Madini, oil n.k. hayanufaishi nchi per se..., bali ni corporations ambazo zina monopoly kwenye hii biashara..., ndio maana nchi kama Nigeria mafuta yamekuwa yakichimbwa kuanzia enzi ila wananchi wanaambulia pollution tupu...

Pia hata mfano wa Diamonds sio scarce kama inavyokuwa perceived bali ni debeers inachimba na kuifadhi Diamonds za kutosha na kuhakikisha ina-control the market...

Kwahio mkuu ni kuna ukweli mkubwa sana kwamba natural resources are a curse in developing countries rather than a blessing

Je, wataka kuniambia serikali za nchi hizi ambamo madini hizi zinachimbwa hazipati angalau mgao wa faida kutokana na mauzo?
Nigeria ina GDP kubwa hivo kutokana na nini? Abacha, Mobutu na Kabila (snr), twaelezwa hawakuwa hata na haya ya kuingia ndani ya benki kuu ya nchi na kupora fedha!
Tatizo sana sana inatokana na uongozi mbaya ambazo mashirika hizo huyadandia tu...

 

[Bavaria]

They dont, really?

Well, forget those few middle eastern countries in conflict, but consider the ones that are at peace now. They are highly advanced economically.
But look here in Africa. Why shouldnt such countries as Nigeria, DRC,Angola,Tanzania(no offence, but u you felas are so rich!),Cameroon, Sao Tome and Equitorial Guinea etc not be at parity in terms of development with Malasia, Indonesia,Singapore,Spain or even Korea? They have massive deposits of very valuable minerals and even long decades of stability.

Na pia kufurahia matunda ya gas na oil kuna factors nyingi sana behind the main objectives.
Ukianza na sera na sheria za nchi, aina ya utawala, mfumo unao wahold watu, maswala ya ukabila na udini, elimu ya jamii husika.
Ukiangalia nchi nyingi kuna matatizo mengi ya ukabila, serikali mbovu za kiimla, sera na sheria mbovu kulinda na kusimamia mambo ya gesi na mafuta.
Kwamfano Nigeria pamoja na kuchimba mafuta mengi ila nchi ilikumbwa na upungufu wa mafuta.

 

[Bavaria]

Je, wataka kuniambia serikali za nchi hizi ambamo madini hizi zinachimbwa hazipati angalau mgao wa faida kutokana na mauzo?
Nigeria ina GDP kubwa hivo kutokana na nini? Abacha, Mobutu na Kabila (snr), twaelezwa hawakuwa hata na haya ya kuingia ndani ya benki kuu ya nchi na kupora fedha!
Tatizo sana sana inatokana na uongozi mbaya ambazo mashirika hizo huyadandia tu...

Nje ya mafuta, Nigeria wana viwanda vingi, wana huduma nyingi za kijamii.
Pia idadi ya watu wa Nigeria ni kubwa sana, kwahiyo kuwa na GDP kubwa sio jambo la ajabu japo walitakiwa wawe mbali sana na hapa walipo.

 

[pkjag]

KeyserSoze Hehe nimeona hizo documentary zote, but also remember when they ended, they said the seven sisters are losing their power. Basically I agree that natural resources are a curse for developing countries, seems they don't know how to use them, South Africa is an exception though sote tunajua kwanini they are still afloat and prospering.

Iconoclastes Yes, the DRC is the richest mineral wealth country in the world with the unexploited mineral deposits having an estimated worth of $25Trillion, that's more than the GDP of Europe and North America combined, imagine that, and that's the unexploited deposits za leo si ya 1960. What the French and the CIA did was to kill Patrice Lumumba, insert Kabila's father and ensure that minerals flow without raising too many questions, it is indeed very painful.

Angola ni nchi nyingine, it just woke up in 2002 na ime-overtake na ku-double Kenya's GDP and the country has 20 million people with a president who has already been bough by the portuguese. Equatorial Guinea doesn't even have a million people but haiwezi hata manage oil wealth. If we africans don't take care we won't have anything else to sell to the west/China and when that is done, we will have nothing to bargain for, once China completes building their Silk route, in 20 years, watanyonya madini yote, we have to be very careful with what we do with the money earned.

 

[Iconoclastes]

Nje ya mafuta, Nigeria wana viwanda vingi, wana huduma nyingi za kijamii.
Pia idadi ya watu wa Nigeria ni kubwa sana, kwahiyo kuwa na GDP kubwa sio jambo la ajabu japo walitakiwa wawe mbali sana na hapa walipo.

Erm...hapo kwenye bold umenoa kidogo. Nigeria kwenye viwanda na huduma za jamii iko nyuma kidogo, ingawa ndio inaanza kujiinua kwenye nyanja hizo.
Nigeria, katika miaka ya nyuma ilitelekeza sekta zote za kiuchumi na kutegemea sekta ya mafuta pekee. Ndio maana inaitwa a 'mono-product economy'. Utalii, ukulima, viwanda, huduma za jamii nk zilielekea kuozea mbali.
Hiyo ndio maana Nigeria hutegemea bidhaa nyingi zilizoagizwa hasa kutoka SA.

 

[Iconoclastes]

pkjag,
Actually, Laurent Kabila was a very recent DRC leader, who took power in 1997 but was assassinated in 2001. Patrice Lumumba was succeeded by his murderer Moise Tshombe who was succeeded by his murder Gen. Mobutu Seseseko who ruled for kedo 30yrs before his ouster by Kabila.

Angola, is pretty much like Eq. Guinea, having a big economy while the vast majority of the populace are paupers while the pipo holding the top echelons of power live way better than the British royalty.

Yeah, u are right that if we Africans do not keep our guards, much of our valuable resources will be siphoned off, all it by the outsiders to develop their regions while leaving us stuck in underdevelopment.

That will require us to have brilliant, far-sighted leaders, well operating governance institutions, educated and a hardworking population and democracy to facilitate all that. Else, we are facing a fall into the abyss.

 

[pkjag]

pkjag,
Actually, Laurent Kabila was a very recent DRC leader, who took power in 1997 but was assassinated in 2001. Patrice Lumumba was succeeded by his murderer Moise Tshombe who was succeeded by his murder Gen. Mobutu Seseseko who ruled for kedo 30yrs before his ouster by Kabila.

Angola, is pretty much like Eq. Guinea, having a big economy while the vast majority of the populace are paupers while the pipo holding the top echelons of power live way better than the British royalty.

Yeah, u are right that if we Africans do not keep our guards, much of our valuable resources will be siphoned off, all it by the outsiders to develop their regions while leaving us stuck in underdevelopment.

That will require us to have brilliant, far-sighted leaders, well operating governance institutions, educated and a hardworking population and democracy to facilitate all that. Else, we are facing a fall into the abyss.

The Kabila clan are still US lackeys, inserted by the US though i missed the other dictators. What Africa needs is a billionaire/billionaires who can exploit those minerals. Billionaires who can establish manufacturing plants and create an industry that sources african minerals at a subsidy, then we can start manufacturing electronics and heavy machinery for ourselves at a cheaper price, si kila mara tuna import na kuimarisha dollar. Real estate is nice and dandy but not risky enough for the kind of investments that make real billionaires, we want somebody who will upset the traditional western and eastern economic bases.

 

[sam999]

Iconoclastes I was really surprised to see that equatorial Guinea has an economy of 19bn$
With land smaller than nakuru county
With exports of 4.5bn$ from oil per year and

Get this

500 000 people ONLY AS IN ELFU MIA TANO PEKEE YAKE I WAS LIKE CRIASLY Y DO SOME PEOPLE HAVE TO SUFFER LIKE THEM?

NOT THAT THE COUNTRY IS HUGE

WHO HAD OF THE VHINESE GHOST TOWN BUILT IN ANGOLA USING ONLY 3BN$
THEY SET UP 300K HOUSES each with 6 rooms get that so essentially 1.8mn pple can live in that city kikambala


Yet equatorial Guinea sells oil annually worth 4.5nn$ and it's not American or the wastern or Chinese selling its their government selling the oil they have a GDP per capita 1000$ more than France at 36 500 $ per annum yet only 48 000 people in the whole country live a good life the rest are being treated like dogs
That 500k population is smaller than the amount of KCPE AND KCSE students combined who graduate annually in Kenya


If I hear of an uprising in equatorial Guinea I will go support it cause that country Nigeria and Angola are the most MOST corrupt of them all they are the ones that perpetuate this notion of Africa being plagued cause they have all it takes for example Angola and equatorial Guinea both have no religious division or surround failed state they have the Atlantic Coast all the way to Brazil very few people but yet soooooooo poor to a point u ask ur self what is wrong can't they just remove a year salary from oil and make every one happy?

Fyi Angola makes 76bn$ annually from oil but it's economy has started stagnating at 130bn$ gdp

Kenya exports this year reached 9bn$ but our economy has also pandad to 69.6bn $

How can u make 76bn$ in a country of 18mn people and still tell me that 15mn people are below poverty line??


In 2012 Angola even bailed out Portugal by 100bn$ to avoid the Greece situation but still there is a whole brand new ghost town in luanda Angola with a capacity of 1.8mn tht is all vacant I really appreciate that we east Africans are hot heads cause I don't see how I will not be a warlord in Angola.

 

[pkjag]

Sam999 I can see you read my post, nakwambia it's painful, yaani me huwish there was some african country strong enough to oust that Angolan president ju most of the Oil profits go to him and his daughter, it's really painful to think of all these wasted resources go to a majority few, yaani watu ni vipofu. I am however glad Kenya did not discover these things mapema, sasa ata sitaki ku-imagine tungekuwa wapi :mad2::mad2:

 

[sam999]

We wud be worse kama tuna pata medals tuna tingisha twitter mzima tukipata mafuta and get a good leader cjui tunaanza kuunda empire na colonies...... Glad constitution was wrote Early enough pkjag

Sai tuki pata gas ama mafuta kwa uwingi am sure it will be hectic but we will be the next Netherlands ama Canada they used their oil resources and came from poverty to being rich 1st world countries in such a short time kwanza Netherlands.... I really love how it came about now it's basking in glory

And get this Netherlands has the same or had the same amount of oil south Sudan have now and half the population

South Sudan wako 12mn with 5bn barrels 10bn$ Gdp
Netherlands wako 8mn with now 7.2bn barrels 456bn$ GDP

u wonder what really goes wrong in africa

 

[pkjag]

sam999 Nangoja sana hii last mile connectivity iishe, si walisema wataconnect every county with a fibre optic cable, internet will be cheaper, then wamalize kuconnect all homes na stima, I believe as we get more educated and aware, we'll reach a threshold where we'll have good leadership in all levels of governance.