The new well, "Zohr-17", has been placed in Zohr natural gas field in the Mediterranean Sea on production, after the completion of the drilling work for the southern region.
Petroleum Sector will complete linking well number 13 of Zohr gas field toproduction by the end of September, an official source at the sector said.
The minister said that the current production of Zohr field represents eight times the production of about 2 years of the first field production in December 2017.
The media center of the Council of Ministers revealed Sunday that Egypt did not give up its stake in Egypt’s gas field,Zohr, to a foreign company.
Egypt’s gas output will get a boost this year as the country’s huge Zohr field nears peak production and with $1.8 billion in investment from BP, officials said on Monday.
That came during a meeting with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Tarek el-Mulla.
The country’s daily production of gas rose this month to 6.6 billion cubic meters from six billion cubic meters in July 2017.
The total investments pumped in Noras and Zohr fields so far reached $8.4 billion
The meeting comes to follow up the progress made by Eni in recently-discovered gas projects in the country, including the offshore Zohr gas field, the spoksman added.
Rates of domestic production increased to about 6 billion cubic feet of gas per day.
At a joint press conference with Cypriot Minister of Energy Yiorgos Lakkotrypis, he said two lines will be added to the production in August.
Egyptian Petroleum Company, Petrojet, set a new record of 35 million safe working hours at Zohr gas field.
A wrap-up of the most prominent business news of the day.
The second phase of Egypt’s giant Zohr gas field will be completed before year-end and will add around two billion cubic feet per day to production.
Production of the field is scheduled to reach 1.2 billion cubic feet per day in May and two billion cubic feet per day by the end of 2018, amassing 2.7 billion cubic feet per day.
The European Union (EU) stressed the importance of supporting energy sector in Egypt in order to transform Egypt into a regional energy hub.
Gas production from the Noras gas field increased to around 1.2 billion cubic feet per day (bcf/day).
Discovered in 2015 by Eni, the field contains an estimated 30 trillion cubic feet of gas.
Egypt plans to boost production from its giant offshore Zohr gas field to 700 million cubic feet a day (cfd) in May and to 1.8 billion cfd in September.
Molla emphasized the ministry’s interest in developing its new discoveries speedily.