$11 billion Egypt's gas exports last year

Over the past eight years, the petroleum sector has succeeded in advancing investment in the search for oil and gas in Egypt in order to develop petroleum wealth and make new discoveries.

  During the same period, 27 projects have been implemented to develop gas fields, with investments estimated at $21 billion, and Egypt's production reaching 6.5 billion cubic feet of gas per day.

  The giant “Zohr” field was discovered and put on production in a record time, as it shattered all international rates and had a great impact on meeting the needs of the local market and achieving self-sufficiency in gas and export.

Exporting about 7 million tons of natural gas

All these efforts made Egypt one of the ready solutions to meet part of the demand for natural gas for European markets, as it exported about 7 million tons of liquefied natural gas last year, 80% of which were for the European Union markets, and this year it will increase to about 8 million tons, 90% of which are for the markets of the European Union.  

It can be said that the gas system in Egypt has drawn up previous plans for it, as well as specific strategies with the aim of exporting gas after we were exporters.

Dr. Mohamed Saad El-Din, Vice President of the Investors Union and Chairman of the Energy Committee of the Federation of Industries, confirmed that during the past 7 years, we have signed 108 agreements in Egypt after conducting a survey of the Mediterranean, the Red Sea and Western Desert.

The start was from Zohr field

He explained that Egypt had signed agreements and started granting permission for exploration to a number of companies, pointing out that the launch was from the Zohr field, which was launched in a record period and its production reached 3.2 billion cubic feet every day and represented a great addition to Egypt.

He pointed out that every period new natural gas fields will be announced periodically, pointing out that the Nargis field is half the area of the Zohr field and contains 3.5 trillion feet of reserves.

Last year, we exported $11 billion in gas

He stressed that we will witness new gas discoveries periodically, and this will represent an added value to the national economy, pointing out that we used to import $2.5 billion in gas annually, and we exported $11 billion gas last year, expecting an increase this year as Egypt exports $1 billion in gas per month.

The following is the most important information about the giant “Zohr” field:

-        It was discovered in the Mediterranean Sea in 2015, by the Italian company Eni.

-        Actual production from the field started in December 2017.

-        A year after starting production from the field, Egypt declared its self-sufficiency in natural gas.

-         This field is considered one of the largest fields discovered in the Mediterranean Sea, surpassing the Israeli Leviathan gas field.

-           Its production capacity is estimated at about 3 billion cubic feet per day.

-          During the fiscal year 2019-2020, production rates increased to more than 3 billion feet.

-          The estimated gas reserves in the field are 30 trillion cubic feet.

-          Its production represents 40% of Egypt's total gas production.

-          The total actual spending since the start of the Zohr field development project until the end of June 2020 is estimated at $10.4 billion.

-            The total number of wells produced in the field is 15 wells.