Tag Archives: Egypt

Gas production in Egypt went into steep decline several years ago due to price controls and lower investment from international companies.

ExxonMobil and partner Qatar Petroleum are also scheduled to drill southwest of Cyprus in the second half of this year.

The focus has been on gas that has begun flowing from Egypt’s Zohr gas field. the largest in the Mediterranean.

Trade sources have reported that Egypt has been looking to import five cargoes of LNG at competitive pricing.

Eni says to produce 2.9 bcf per day from Zohr field by second half 2019.

The country owed $2.4billion (£1.7billion) at the end of June 2017 .

The Egyptian government had agreed to buy 12 million barrels of oil per year from Iraq.

Zohr was first auctioned back in 2012. but the discovery of the huge deposit of gas was only made in 2015.

The field. operated by Eni. was discoveredAugust 2015 and is estimated to have a total potential of up to 30 trillion cubic feet of gas in place.

Egypt’s Eni SpA-operated Zohr natural gas field has started production. bringing the country closer to its goal of energy self-sufficiency.