Egyptian Natural Gas Output to Reach 8 bcf/d in 2021: Ministry Official

Egypt’s natural gas production will increase to 8 billion cubic feet per day (bcf/d) by 2021, up 29% from 6.2 bcf/d currently, an official source at the Ministry of Petroleum told Al Borsa.

The ministry is working with companies to introduce a program to preserve current oil and condensates production rates until 2021, while compensating for the natural decline of some of the country’s oil fields.

Crude oil production has increased by 4.3% to reach 657,000 barrels per day (b/d) compared to 630,000 b/d a year ago, the source said, adding however that the country’s crude reserves have shrunk by 25% to 3 billion barrels (bb), compared to 4 bb in 2015.

Sarah Samir 2944 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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