Minister of Petroleum Tarek El Molla said on July 17, 2017, that the new natural gas projects in Egypt will increase production by 50% in 2018 and 100% in 2020.
Egypt’s natural gas production has risen to about 5.1 bln cubic feet per day in 2017 from 4.4 bln cubic feet in 2016, as BP’s North Alexandria projects came online.
The Italian Eni discovered the Zohr field back in 2015.
Zohr is the biggest gas field in the Mediterranean Sea, and its reserves are estimated at about 850 billion cubic metres.
The Italian company completed the approval procedures for its development in February and is scheduled to start production of gas by the end of 2017.
The minister El Molla reviewed the new refining projects that are being implemented during the next 4 years that will contribute to bridging the gap of petroleum products with $8.3 bln of investments.
He added that by 2021, Egypt will be able to achieve optimum economic benefit from all natural resources and transform Egypt into a regional centre for oil and gas trading to become.
The minister explained that the strategy of the petroleum sector has been amended.
The development and modernisation programme is an essential part of it to be in line with the integrated vision of energy in Egypt up to 2035.
Egypt is in talks with liquefied gas suppliers to postpone contracted shipments this year and aims to cut purchases in 2018 amid a growing local production.
