Egypt plans to boost natural gas output

The Ministry of Petroleum of Egypt said there are plans for digging 26 wells at a total cost of $9.9 billion within the framework of five projects meant to increase the natural gas output in 2017-18.

Natural gas production is expected to reach 5.85 billion cubic feet per day by the end of the coming fiscal, the ministry said.

During the general assembly meeting of the Egyptian Natural Gas Holding Co (EGAS), Petroleum Minister Tarek Al-Mulla said the natural gas output is expected to witness a leap this year in view of the current discoveries and gas fields development, especially in the Mediterranean, the Nile Delta and the Western Desert.

He added that the ministry plans to up Egypt’s natural gas output gradually in line with the state vision to secure energy supplies, cater for needs of all state economic sectors and magnify petroleum and natural gas resources.

EGAS Chairman Mohamed Al-Masry said the digging plan in the Mediterranean and Nile Delta succeeded by 75 per cent.

The daily natural gas output upped from about 3.9 billion cubic feet to about 4.5 billion cubic feet.

The first stage of extending natural gas pipelines to power stations in Beni Suef (south of Cairo), the new capital and Borolos (north of Cairo) was finalised, he said.

In the first half of the current fiscal, four agreements on oil and natural gas prospecting in the Mediterranean Sea were signed with minimum investments of 306 million dollars, Al-Masry said.

Source: Reuters