Significant Advances in Zohr Gas Field Development Noted by Egyptian Petroleum Minister
The Zohr gas field, under development by Petro Shorouk, is projected to start gas production by late 2024, with investments reaching $16 billion. Collaboration with Eni is crucial for meeting production targets and addressing local gas needs.
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Eng. Tarek Al-Molla, Egypt's Minister of Petroleum, announced that the Zohr gas field is on track to commence gas production by the end of 2024. The project, managed by Petro Shorouk, has seen investments estimated between $12 billion and $16 billion and is expected to produce 1 billion cubic feet of gas daily, eventually reaching 2.7 billion cubic feet by late 2019.
Key stakeholders, including representatives from the Egyptian General Petroleum Corporation (EGPC) and Egyptian Natural Gas Holding Company (EGAS), attended the meeting where significant cooperation with Eni was highlighted. The Zohr field is anticipated to play a pivotal role in bridging the gap between production and consumption in Egypt's gas market, thus attracting further investment.
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