Petroshrouk Chairman Khaled Mowafy has announced that progress is underway on the development operations plan for the Zohr natural gas field, as outlined for the current fiscal year (FY) 2023/24.

This plan entails the drilling and completion of well Zohr-19, with a focus on attaining operational conditions aligned with international technical and safety standards by the first half of the fiscal year.

This came during the company’s general assembly, which was attended by Minister of Petroleum and Mineral Resources Tarek El Molla via video conference.

The Minister thanked the workers for the efforts made and the results achieved during the year. He also praised the positive indicators achieved in the field of safety that reflect commitment to implementing safety strategies and standards.

Meanwhile, Mowafy stated that the new investment budget for FY 2024/25 aims to continue intensifying development operations in the Zohr field area. This includes developing the facilities in the onshore production station that serves the field, and implementing a project to raise the efficiency of its operation and linking it with the compressors of the Gemayel station in Port Said, which represents an integration solution to make the most of the assets and the structure available.

Mowafy explained that the budget includes investments of about $535 million to implement field development activities and operations work.

Furthermore, Mowafy highlighted the significant impact of the Zohr field project on community development efforts. He noted the implementation of various service projects in education, healthcare, and youth empowerment aimed at benefiting the surrounding community in Port Said Governorate.