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New discoveries of natural gas helped Egypt to increase natural gas production, helping it to cover domestic demand and stop natural gas imports as early as this year.
Petroleum Minister Tarek Al-Molla) could stop in the fourth quarter of 2018, which would allow exports to start early next year.
He stated that the final offer of LNG import had been issued to cover domestic demand for the third quarter. This news comes from the Egyptian giant Zohr Field, discovered by the Italian energy company Eni in 2015, which will increase gas production to 1.75 billion cubic feet per day by August against 1.2 billion cubic feet currently.
Egypt's total output is six billion cubic feet per day, and is expected to reach 6.5 billion by September, said Al-Molla.
Egypt has recently worked to boost natural gas production by accelerating production. fields as well as the intensification of exploration activities. Egyptian natural gas production increased in December 2017 to 3.4 million tonnes from 2.7 million tonnes in December 2016.
Production increased with four main fields, including Taurus and Libra West Delta, as well as the Atoll and Zohr fields. The projects added some 1.6 million cubic feet to the country's natural gas production
. Besides Zohr, other fields are expected to go into production this year. The Fayoum and Giza fields, located in the deep water concessions of North and West Mediterranean, are expected to start producing by the end of 2018, with a daily output of 500 to 700 million feet. cubes
. In 1965, the firm approved a $ 105 million exploration agreement in the Mediterranean off the coast of northern Sinai with Eni and the Egyptian company Tharwa to search for exploration projects. Eni and Tharwa will spend $ 105 million in two stages over six years, which involves drilling a well in the first stage and another in the second.
Although the agreement has not yet been ratified by parliament, press reports surfaced last week of an imminent natural gas discovery by Eni that would be thrice the size of Zohr's field. The reports referred to the Nour field in the offshore Shorouk concession
However, Eni denied reports Monday. "There are prospects and new structures [en[geological] in Egypt, but we still have not discovered anything," Eni's general manager Claudio Descalzi,
Eni told Reuters that he would start drilling an exploratory well. Nour Field in Two Months
In a recent interview with Al-Molla, Descalzi said that his company had allocated 70% of its overall investment to Egypt, saying that it had up to now injected $ 8.4 billion into the Egyptian fields Zohr and Nour.
He added that an additional $ 3 billion would be injected in the coming period.
Ramadan Abul-Ela, oil specialist, says that a new discovery could be found in the Mediterranean, but it would not be larger than the Zohr. Field. He said Egypt was not yet realizing the region's full potential, saying the country's share in the Mediterranean was 50 trillion cubic feet of gas, of which 30 trillion was discovered at Zohr.
He said the Zohr field would help cover domestic demand, but exports would not resume soon. He added that in case of excess production, it would be better to create added value and route it to the petrochemical industries.
Stopping gas imports would release resources that the government could devote to sectors such as education and health care. Abul-Ela told Al-Ahram Weekly
that the government is placing its hopes in Egypt's new discoveries and strategic location, helping to attract more investment foreigners and to become an energy center. Egypt seeks to raise $ 10 billion in foreign investment in the oil and gas sector for 2018-2019, an increase of 25% over the previous year.
In February, the country released highly anticipated regulations that allow the private sector to import natural gas. Parliament pbaded a law last year establishing a Gas Regulatory Authority with the aim of attracting greater private sector participation in the sector.
Meanwhile, Egypt is investing in infrastructure to become a regional energy center for the export of natural gas. He built fuel depots for ships along the Suez Cbad and expanded his refining capacity. Egypt has a vast network of pipelines and two unused gas liquefaction plants ready to export new gases upon arrival.
The country also aims to sign an agreement with Cyprus for a gas pipeline intended to transport gas from Aphrodite's field to its LNG facilities. 1965-002] Meanwhile, the US-based Israeli group Delek Drilling and an Egyptian company are in advanced negotiations to buy 37% of East Mediterranean Gas (EMG), which operates the sub-pipeline. sailor connecting the Egyptian peninsula to Sinai. Bloomberg
The buyout would remove an arbitration case against Egypt and remove a major impediment to the use of the EMG pipeline to transport 64 billion cubic meters of natural gas Israeli fields Tamar and Leviathan at Egyptian Dolphinus Holdings for 10 years. [19659002] * A version of this article is printed in the July 5, 2018 edition of Al-Ahram Weekly under the title: Natural Gas to Gogo
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