Reach $15 billion.. Egypt expects investments in the Zohr gas field
Egypt's position as a gas producing country was strengthened thanks to Eni's discovery of the giant Zohr field in the eastern Mediterranean in 2015.
Shrouq
The Egyptian Cabinet said in a statement, that investments in the Zohr gas field are expected to reach $15 billion over the next three years. The statement added that the offshore field is operating at full production capacity without technical problems.
Natural gas
He said that the Cabinet "confirmed that there is no truth to the existence of technical problems in the Zohr field that caused a decline in the field's production capacity of natural gas, which threatens to put it out of service, stressing that the Zohr field operates with the highest efficiency and at its full production capacity."
The statement added that work is currently underway to drill well No. 20 in the field.
Egypt's position as a gas producing country was strengthened thanks to Eni's discovery of the giant Zohr field in the eastern Mediterranean in 2015.
It is worth noting that early production from the field started in 2017 at a rate of about 350 million cubic feet of gas/day, and it continued to increase gradually as a result of the entry of wells into production, as 19 wells entered production.
Zohr field
It should be noted that the partners in the Zohr field, Eni of Italy, BP of England, Rosneft of Russia, Mubadala of the Emirates and Egyptian EGAS (and the operator of the field, Eni) have continued to pump investments since the start of production in order to maintain production rates for the field.
The twentieth well is currently being drilled, with investments of $70 million, and it reaches an average production of about 2.3 billion cubic feet of gas/day. The total investments in the field so far have reached $12 billion.
The most important information about Zohr field:
1. It was discovered in the Mediterranean Sea in 2015, by the Italian company Eni.
2. Actual production from the field started in December 2017.
3. A year after the start of production from the field, Egypt declared its self-sufficiency in natural gas.
4. This field is considered one of the largest fields discovered in the Mediterranean Sea, surpassing the Israeli Leviathan gas field.
5. Its production capacity is estimated at about 3 billion cubic feet per day.
6. The estimated gas reserves in the field are 30 trillion cubic feet.
7. Its production represents 40% of Egypt's total gas production.
8. The total actual expenditure since the start of the Zohr field development project until the end of June 2022 is estimated at $12 billion.
9. The total number of wells produced in the field is 15 wells.
