The Ministry of Petroleum and Mineral Resources said Zohr field production during fiscal year (FY) 2022/23 reached 2.4 billion cubic feet per day (bcf/d) of natural gas in addition to 3,700 barrels of condensates per day, announcing that production from Zohr 20 well will start by the end of October as part of measures to maintain the reservoir and production rates.
In statements on Monday during a meeting of the general assemblies of Petroshrouk and Belayim Petroleum Company (PETROBEL) to approve the results of the work of fiscal year 2022/23, Minister of Oil and Mineral Wealth Tarek El Molla said there are promising opportunities for increasing the production rate of oil and gas through upgrading the search and exploration operations, noting that PETROBEL and Italy’s ENI are considered successful models for cooperation and integration in the Egyptian oil industry due to their vast expertise and huge potentials in making new exploration sites.
Molla also praised Egypt’s successful partnerships with ENI, BP, Rosneft and Mubadala companies in Zohr field project as well as the efforts exerted by PETROBEL to maintain stability of production rates.
He pressed the need for intensifying activities of drilling, discovery and exploration as well as working out applicable solutions with the use of state-of-the-art technologies to up production rates, noting that the State was fully ready to offer all aspects of support to this project, which is the biggest and most important one for the production of gas in Egypt.
Meanwhile, Petroshrouk Chairman Khaled Mowafy reviewed the company’s annual operational results and said that production of oil, natural, condensates and butane gas reached 93 million barrels with total investments of dlrs 737 million.
