Egypt: Zohr gas field starts production

Egypt: Zohr gas field starts production”

Egypt is now in negotiations with Cyprus to sign an agreement that would allow it to transfer gas to Egypt, Minister of Petroleum Tarek El Molla said Monday.

Mulla added that the initial production rate of the field is 350 million cubic feet of gas per day.

Mulla said that this event represents a milestone in the history of the worldwide gas industry in general and the Egyptian gas industry in particular, after the success of production from the field at an unprecedented record time compared to similar major gas discoveries in other countries of the world. The field is expected to save Egypt some $1 billion annually in gas imports.

The project is divided into multiple stages; the first stage of the project to be completed in June 2018 while the second to be completed by the end of 2019.

Molla said that Egypt consumes some 5.8 billion cubic feet of gas every day, while Zohr project is expected to cover one quarter of the country's gas demands upon completion.

Investing around $10 billion in the project, Eni is estimating total output of the field to be approximately 30 trillion cubic feet of gas.

During his speech in the 1st Al-Ahram Energy Conference, El Molla said that the two sides are holding strategic negotiations with the European Union about connecting gas fields in the region.

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