Egypt hopes the production capacity of its giant Mediterranean Zohr gas field would exceed 3 billion cubic feet per day (bcfd) before the end of this year.
There are now 12 wells in production in the field; whereby the 13th will become online next October and the 14th before the end of the current year, the Ministry of Petroleum said in a statement on Wednesday.
There are now 13 wells in production in the field, and the 13th will become online next October, the Ministry of Petroleum said in a statement on Wednesday.
“Before the end of this year, there will be 14 wells in production in Zohr, making its production capacity exceed 3 billion cubic feet per day.” the ministry statement read.
The total investments for the development of Zohr field were so far $10.6 billion, including $3 billion in 2019, the statement added.
The giant field, Zohr was discovered in 2015 by Italy’s Eni and began output in late 2017. It holds an estimated 30 trillion cubic feet of natural gas.
Eni and Kremlin-controlled Rosneft control 50 percent and 30 percent of the project, respectively. 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 natural gas market and revived the country’s hopes of becoming a regional energy hub.