Egypt revealed that the “Zohr” natural gas field in the Mediterranean Sea will witness, during the coming period, work to drill new wells through the Italian company “Eni.”
Egyptian Minister of Petroleum and Mineral Resources Karim Badawi said: “This aims to develop gas reserves and exploit opportunities to increase gas production rates again from the field, which is of great importance in Egypt.”
In turn, Eni’s director in Egypt, Francesco Gaspari, said: “The necessary measures are currently being taken to launch a campaign to drill new wells with modern technology in deep water in the field’s concession area.”
Eni discovered the field in 2015 and production began in late 2017. The field contains an estimated 30 trillion cubic feet of gas, and is managed by Petrobel, a joint venture between the Italian Eni and the state-owned Egyptian General Petroleum Corporation.
Khaled Mawafin, head of Petro Shorouk Company, which operates in the Zohr field concession area, said: “The work carried out during the fiscal year 2023-2024 “contributed to maintaining an average production of about two billion cubic feet of gas per day.”
He added: “The volume of investments in field activities amounted to more than $677 million during the year, while preparations are underway to drill two new wells in the first quarter of 2025.”
The Egyptian Council of Ministers estimated that the total investments in the field have reached 12 billion dollars so far, and it is expected to reach 15 billion during the next three years, and that work has begun to drill well No. 20 in the field with investments of 70 million dollars, which is expected to produce production. It later appeared to reach 2.3 billion cubic feet per day.”
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