The Egyptian Cabinet anticipates that the Zohr gas field will attract investments of $15 billion over the next three years, according to an official statement.
In an official statement, the Media Center for the Egyptian Cabinet has refuted circulating news regarding technical issues that allegedly threatened the productivity of the natural gas field.
In a detailed statement, the Media Center clarified that it has been in communication with the Ministry of Petroleum and Mineral Resources, which firmly denied these reports.
The ministry confirmed there is no truth to the existence of technical issues at the Zohr field that could potentially undermine its natural gas production or lead to its shutdown.
The statement emphasized that the Zohr field is operating at full efficiency and capacity, complying with the latest international standards, and is not plagued by any technical difficulties.
It is worth mentioning that the early production from the field commenced in 2017 at a rate of approximately 350 million cubic feet of gas per day. This rate has gradually increased as a result of the successful operationalization of the wells, with a total of 19 wells currently in production.
Key partners in the Zohr field – including Italy’s Eni, the UK’s BP, Russia’s Rosneft, UAE’s Mubadala, and Egypt’s EGAS (with Eni being the operator of the field) – have consistently invested since the start of production to maintain the field’s output levels.
Meanwhile, the twentieth well is being drilled with an investment of $70 million, achieving average production of about 2.3 billion cubic feet of gas per day. The total investment in the field to date is $12 billion.
