Zohr’s Investments to Exceed $4B

Zohr’s Investments to Exceed $4B

Egyptian Zohr field’s total investments may increase to more than $4 billion by the third quarter of 2017, from the current $3.8 billion, making around 5% increase, an official at the Egyptian Natural Gas Holding Company (EGAS) stated, according to Al Mal News.

The total cost of Zohr is estimated between $12 billion and $15 billion. The field is expected to start production in 2017 as around 81.2% of the project is finalized.

“After digging nearly seven to eight wells, additional  complementary, horizontal wells, as well as those parallel to the main ones, are to be drilled soon,” said the source.

Earlier in August, Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, had visited Zohr field to check on the field’s development process, reported Egypt Oil & Gas.

Zohr’s development is in full swing in terms of drilling development wells and constructing offshore facilities and an onshore station, El Molla said. The onshore station will receive and process gas produced from Zohr and should be online before the end of 2017.

Sarah Samir 3297 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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