Egypt’s Zohr natural gas field production has increased to 2.7 billion cubic feet per day (bcfd), Oil Minister Tarek el-Molla said on Wednesday.
In February, Egypt’s petroleum ministry said the field’s production stood at 2.1 bcfd. The government aims to raise production to 3 bcfd at the end of the year.
El-Molla said in a statement that the current production level was reached four months ahead of schedule. There are now 12 wells in production in the field, the statement said.
Zohr was discovered in 2015 by Italy’s Eni and began output in late 2017. It holds an estimated 30 trillion cubic feet of gas.
Eni controls 50 percent of the project. Kremlin-controlled Rosneft owns 30 percent, while BP and Mubadala Petroleum each have a 10 percent stake in Zohr.
Higher output helped Egypt become self sufficient in natural gas in late 2018. Zohr’s discovery piqued investor interest in Egypt’s gas market and renewed the country’s hopes of becoming a regional energy hub.
Source: Reuters
