Egypt’s Oil, Gas Production Hits Record Level at 1.9 M boe/d

Egypt’s Oil, Gas Production Hits Record Level at 1.9 M boe/d

The Egyptian petroleum sector has achieved the highest production rate of crude oil and natural gas in its history, as it amounted to about 1.9 million barrel of oil equivalent per day (boe/d) of oil, gas, and condensates, Al-Ahram reported.

Tarek El Molla, Minister of Petroleum, announced this during his visit to Paris to attend an international conference organized by the Observatoire Méditerranéen de l’Energie (OME) to discuss the role of natural gas in the Mediterranean Region, according to ministry spokesman Hamdy Abdel Aziz.

The Minister said that this comes as Egypt aims to boost its production, which is a result of recent new gas discoveries.

According to the Ministry of Petroleum and Mineral Resources, the oil sector recently achieved self-sufficiency of natural gas at the end of September 2018, which enables Egypt to convert from being a liquefied natural gas (LNG) importer in 2015 to an exporter and achieve a surplus in production.

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