Egypt’s President, Abdel Fattah Al Sisi, has inaugurated the expansion project of Misr Fertilizers Production Company (MOPCO) in Damietta, which will contribute to the plan to maximize the added value of the country’s natural gas, increase the agricultural land to provide food security, and provide cash flow as well as job opportunities, Egypt Oil&Gas reported citing an Oil Ministry’s press release.
At the event, Minister of Petroleum and Mineral Resources, Tarek El Molla, reviewed the ministry’s strategy to secure Egypt’s oil and natural gas needs, expand the petrochemicals industry, maximize the added value, and transform Egypt into a regional center for energy.
El Molla added that, in the past years, the ministry was able to maintain crude oil production rates by continuously executing various gas projects. According to the minister, the most important projects for natural gas field developments are Zohr, North Alexandria in the Mediterranean, and the Nooros gas fields with confirmed reserves of 2tcf. He also noted that production of the North Alexandria gas fields was pushed sooner to Q3 of the next year, instead of initially scheduled 2020.
In addition, the minister reviewed the procedures of securing natural gas imports in order to fill the gap to meet the country’s demand. He also looked into the strategic aim to develop and expand refineries, enhance infrastructure, and execute gas-to-homes projects.