Ministry of Petroleum to Implement 11 New Projects with $15 B Investments

Ministry of Petroleum to Implement 11 New Projects with $15 B Investments

The Ministry of Petroleum and Mineral Resources announced that it aims to implement 11 new projects for the development of new gas fields with investments of about $15 billion until mid-2022, Al-Ahram reported.

According to the ministry, this comes as result of achieving self-sufficiency and increasing natural gas production after the implementation of 27 projects to develop natural gas fields, especially in Zohr, west of the Nile Delta, Norse and Atoll, with total investments of $ 21 billion and production of about 6.8 billion cubic feet of gas per day (bcf/d) and 41.3 thousands condensates barrels per day (b/d).

Hence, natural gas production increased by 50% in 2018 compared to 2016, and then doubled the following year by 100% in the same period.

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