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Egypt Adds 700m ft3 to Gas Output in 2019

Egypt Adds 700m ft3 to Gas Output in 2019

Wednesday, 5 December, 2018 - 11:30
Minister of Petroleum and Mineral Resources Tariq el-Molla arrives for a meeting at the Presidential Palace in Nicosia, Cyprus September 18, 2018. REUTERS/Yiannis Kourtoglou
Cairo - Asharq Al-Awsat
Egypt will commence trial operation of Giza and Fayoum fields before the end of December with an output average of 700 million cubic feet of gas per day before the end of the first quarter of 2019.

Minister of Petroleum and Mineral Resources Tariq el-Molla carried out a field visit to the two gas fields, under the country’s pursuit to increase natural gas production from deep waters in the Mediterranean Sea to become a regional source for trading gas.

Egypt increased its output of natural gas around 10 percent since June to 6.6 billion cubic feet per day after an increase in production at Zohr offshore gas field to 2 billion cubic feet per day.

Eni, multinational oil and gas company, discovered Zohr gas field in 2015 -- a discovery which could hold a potential of 30 trillion cubic feet of gas.

Egypt aims to increase gas production to 6.75 billion cubic feet per day by the end of 2018 and works on becoming a key source of energy in the region.

Molla showcased, in a press statement, the status of commencing trial operation and putting the two fields on the map of production before the end of December. He further noted that the production at Revine gas field will begin before the end of 2019, with an output of 900 million cubic feet of gas per day and investments of USD5 billion.

Moreover, Minister of Public Business Enterprise Hisham Tawfik highlighted, during a conference organized by Beltone Financial Holding, the ministry’s ambitious plan to transfer loss-making companies into companies capable of gaining profits.

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