Egypt to Announce Huge Gas Field Discovery

Egypt to Announce Huge Gas Field Discovery

A source at the Egyptian Ministry of Petroleum and Mineral Resources stated that Egypt will announce a new gas discovery in Nile Delta to be located in Mahala city. The new discovery’s seismic surveys revealed huge reserves that might be equal to Zohr field’s volumes, Egyptian Media reported.

The company responsible for operations in the field is currently drilling a number of exploratory wells to ensure reserves. The discovery will be announced by terminating the first drilling phase, which will take place before the end of 2017.

Furthermore, the source pointed out that Egypt’s gas production is around 4.45bcf/d and the country is targeting to increase gas production to 5.35bcf/d in the fiscal year 2017/2018.

In related news, CEO of the Egyptian Natural Gas Holding Company (EGAS), Mohamed El Masry, had said at Egypt Petroleum Show (EGYPS 2017) that Egypt hopes its gas market will be balanced in 2018 and expects to begin exporting gas by 2020.

Sarah Samir 2784 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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