Egypt to Reach Oil Self-sufficiency by 2018

Egypt to Reach Oil Self-sufficiency by 2018

Egyptians Minister of Petroleum and Mineral Resources, Tarek El Molla, stated that the ministry is targeting bringing 2.5bcf/d of gas online in the coming months, Ahram Gate reported.

The production raise comes in the light of the experimental operation of the Northern Alexandria field with a capacity of 600mcf/d and boosting the production of the North field from 950mcf/d to 1200mcf/d. Additionally, the increase is affected by putting the first phase of Zohr field online by the first quarter of the 2018 with a capacity of 1.2 bcf/d and increasing the production of Atoll field by the end of 2018 to reach 450mcf/d.

Furthermore, El  Molla mentioned that it is expected to reach gas self-sufficiency by the end of 2018. The minister said that the gas excess will go to fulfilling export contracts signed before 2011. Additionally the excess will be used in petrochemical manufacturing. El Molla pointed out that no new export contracts will be signed.

Mahinaz El-Baz 317 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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