Economics

Zohr gas field production hikes to 2.7B cubic meters per day

CAIRO – 23 February 2020: Current production of gas from Zohr gas field hiked to 2.7 billion cubic meters in November 2019, Ministry of Petroleum and Mineral Wealth said Sunday.
The ministry clarified in a statement that this comes as a result of accelerating the implementation of the project.
“Petro Shorouk Company has successfully operated four new wells in the southern side of the project and put them on the production map, bringing the total number of operating wells to 14,” Chairman of Petro Shorouk Comany Atef Hassan said.
Hassan said the 15th well in Zohr field will start production in March, raising the current production capacity of gas from the field to 3 billion cubic meters per day.
According to Hassan, the company's current budget is $408 million and will work on resuming other exploration and development activities in the coming phase.
This came during his participation in the general assembly meeting of Petro Shorouk Company to approve the budget of the fiscal year 2020/2021, according to a statement released by the Petroleum Ministry.
Minister of Petroleum Tarek el-Molla said that the Zohr field project is a model of planning, implementation and follow-up as its production rates achieved record levels internationally.
He noted that work is going on resume the project's schedule and put it on the oil sector's production map.
Zohr gas Field is Egypt’s main contributor to gas supply and is the biggest gas field in the Mediterranean, with an estimated production of 30 trillion cubic feet.
Eni discovered Egypt's giant Zohr gas field in 2015. In December 2017, the company delivered the first gas production from the field estimated at 30 trillion cubic feet, which makes it the biggest gas field in the Mediterranean region.



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