Zohr gas field production to reach 2bn cubic feet per day by September: Eni

Mohamed Samir
2 Min Read
Seizing a major opportunity, Egypt is increasing its production of natural gas and expanding exploration of new wells, with the aim of becoming a net exporter and an energy hub. In 2015, the largest achievement in the field was the discovery of the mega Zohr field

Production of the mammoth Zohr gas field in the Eastern Mediterranean is set to reach 2bn cubic feet per day (scf/day) in September, up from 1.6bn scf/day, Italian oil giant Eni said in a press statement on Friday.

According to the statement, Eni raised $58m as an advance on future gas supplies to Egyptian state-owned partners to finance Zohr gas field.

Petroleum Minister Tarek El-Molla explained to Daily News Egypt that Zohr is the largest gas field ever discovered in Egypt and the Mediterranean, with reserves estimated at 30tn cubic feet, and that, with its production, it will contribute to covering part of the country’s domestic needs.

He added that the increase of production from Zohr, in addition to other deep-water fields such as the Atoll, Nooros, Taurus, and Libra fields, will forward Egypt’s target to reach self-sufficiency of natural gas before the end of this year.

Consequently, this will lead to the halt of liquefied natural gas (LNG) exports. The ministry is aiming at importing only 80 cargoes throughout fiscal year 2017/2018, recording a reduction of 32% in Egypt’s current import bill of $200m monthly.

In 2017, Egypt’s oil and gas sector witnessed various successes. After adding around 1.6bn scf/day of natural gas to Egypt’s production, Egypt’s total natural gas production reached the 5.5bn scf/day mark in 2017.

Egypt seeks to increase total natural gas production to about 6.5-6.75bn scf/day by the end of this 2018, up from 6bn cubic feet now.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/
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