Schneider Electric’s business volume hits €60 mln in Egypt Zohr gas field’s phase I

Schneider Electric, France-based firm specialized in energy management and automation solutions, says its business volume reached €60 million in the first phase of Egypt’s massive offshore Zohr gas field in the Mediterranean.

The company is in talks for the financial terms of Zohr gas field’s second stage within the current period, its vice president of energy and export Khaled Kamel told Amwal Al Ghad on Tuesday.

“They (financial terms) is expected to register €25 million,” Kamel further added.

Schneider Electric has so far completed drilling 13 natural gas wells in different areas, the Egyptian official stated, referring that the production in Zohr gas field will increase to 1.7 cubic metres per day at the end of 2018.