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Egypt Gets Closer to Becoming Regional Energy Hub

Egypt Gets Closer to Becoming Regional Energy Hub

Thursday, 22 August, 2019 - 04:45
Egypt’s Zohr field. Reuters file photo
Cairo - Asharq Al-Awsat
Natural gas production at Egypt’s Zohr field, the largest gas field in the Mediterranean, has increased to 2.7 billion cubic feet per day (bcfd), speeding up efforts to turn the country into a regional energy hub, Egyptian Petroleum Minister Tarek al-Molla said on Wednesday.

In February, the field’s production stood at 2.1 bcfd.

Al-Molla said in a statement, a copy of which was received by Asharq Al-Awsat, 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.

Higher output helped Egypt become self sufficient in natural gas in late 2018.

The government aims to raise production to 3 bcfd by the end of the year, the statement added.

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.

Zohr’s discovery piqued investor interest in Egypt’s gas market and renewed the country’s hopes of becoming a regional energy hub.

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