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Gas fields
Shady Zaabal books
Egypt is accepting a large fortune because of natural gas reserves in this very rich region, according to a New York Times report on buried treasure.
In recent years, the Mediterranean Sea has become the world's largest offshore drilling site, due to the series of gas discoveries in the territorial waters of Lebanon, Cyprus and other white countries.
The New York Times confirmed that Egypt holds the largest share of gas resources buried in the Mediterranean Sea after the discovery of the Great Back Field, which has become one of the largest gas fields in the Middle East.
According to the report, Egypt today produces a record 6.3 billion cubic feet of gas per day, up more than 30 percent since 2016, making it one of the largest from the largest producers in North Africa and the Middle East.
In January, for the first time in several years, Egypt exported more gas than it imported.
Oil companies plan to increase their gas production by more than 40% in Egypt this year and are optimistic about the entire Mediterranean.
Last week, Exxon Mobil had announced a new gas discovery in Cyprus, similar to two other important fields: the US Geological Survey predicts that a sufficient amount of gas would be found in the east of the Mediterranean to meet the regional and European energy demand for decades.
Claudio Discalzi, executive director of the Italian Eni, said that Egypt was one of the best places to drill, along with Cyprus and Israel, not only because of the discoveries but also because they were close to Europe, more dependent on gas.
Giant companies came to Egypt after the government decided in 2015 to raise the price of gas to more than one-third.
In the past two years, BP has invested more money in Egypt than any other country, with an additional $ 1.8 billion this year.
Foreign oil companies have invested about $ 10 billion in investments this year, the paper said.
Egypt's new gas wealth supports the two largest gas export terminals of the eastern Mediterranean, built in a previous era.
The paper says that natural gas will help Egypt achieve financial stability and help reduce air pollution, particularly as the government is pushing motorists to convert their cars to gasoline and diesel into one. natural gas that is less polluting and less polluting. Natural gas car.
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