Egypt boosts oil production from Zohr field

Egypt will boost its oil and gas production through plans to drill several new wells in the Zohr gas field during 2024 and 2025, according to a statement issued by the government.

Minister of Petroleum and Mineral Resources, Tarek El Molla, said that this step aims to increase production, improve operational efficiency, and intensify research and exploration work.

Recovery of the energy sector in Egypt

This development signals a recovery in Egypt's energy sector, with the Zohr gas field playing a pivotal role in the country's hydrocarbon landscape.

Al-Mulla explained that during the fiscal year 2022-2023, the average daily production of natural gas from the Zohr field reached about 2.4 billion cubic feet, accompanied by about 3,700 barrels per day of condensates.

He pointed out that production of the 12th well in the gas field is scheduled to begin at the end of next October, which will enhance the efforts made to sustain these production rates.

The minister's statements came during the general assembly of Petrobel and Petro El-Shorouk companies via video conference, where the business results for the fiscal year 2022-2023 were approved.

El-Mulla stressed that the partnership between Petrobel, one of the companies affiliated with the Egyptian General Petroleum Corporation, and the Italian energy company Eni, represents a successful model of cooperation and integration within the petroleum industry in Egypt.

Gas in Egypt

He pointed out that their combined experience and capabilities led to success stories and new discoveries, which contributed to increasing production rates and reserves of oil and gas in Egypt.

Al-Mulla stressed the need to intensify drilling activities, develop implementable engineering and technical solutions, and benefit from advanced technologies to increase production rates.

He stressed the importance of sustainability, emphasizing the application of occupational safety, health and environmental procedures to preserve human resources, assets and equipment within the industry.

Operating gas fields

At the same meeting, Chairman of the Board of Directors of Petrobel, Khaled Mowafi, revealed that the company’s production of oil, natural gas, condensate, and butane during the past year amounted to about 93 million barrels of oil equivalent.

In addition, the total investments in exploring, developing and operating gas and oil fields during the same period amounted to about $737 million.

Founded in 1978, Petrobel is considered one of the largest Egyptian companies operating in the petroleum and energy sector, making significant contributions to the country's energy landscape.