Petrobel’s crude oil production recorded 80,000 barrels per day.
Baker Hughes will provide project management, engineering procurement, fabrication, testing and transportation of a subsea production system.
Petrobel produced 345,000 barrels of equivalent oil per day in fiscal year 2016/17 with $693 million in investments, the Chairman said.
Initial investments planned for the project value at $12 billion, Minister of Petroleum Tarek El-Molla said.
State-owned oil and gas services company will start second phase of their work on Zohr field next week.
Seven wells have been drilled, leaving two more to be dug.
The scope of work will include installing 30 gas export pipelines, Saipem says.