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Egypt expects its gas production to grow 6.2 billion cubic feet per day
Egyptian Oil Minister Tariq al-Mulla predicted on Thursday that his country's natural gas production will grow by 1 billion cubic feet per day to reach 6.2 billion cubic feet per day by the end of the current fiscal year 2017-2018.
In an interview with Reuters, Al Mulla attributed the increase in production to the "back, atoll and norese fields" in the Mediterranean.
Italy's Eni discovered the field in 2015, the largest gas field in the Mediterranean, with an estimated 850 billion cubic meters of reserves.
The Italian company completed the approval procedures for its development in February and is scheduled to start producing gas by the end of this year.
Egypt is in talks with liquefied gas suppliers to defer contracted shipments this year, aiming to cut purchases of 2018 as domestic gas production rises from new discoveries, cutting demand for imported high-cost gas.
http://economy-news.net/content.php?id=8457
Egyptian Oil Minister Tariq al-Mulla predicted on Thursday that his country's natural gas production will grow by 1 billion cubic feet per day to reach 6.2 billion cubic feet per day by the end of the current fiscal year 2017-2018.
In an interview with Reuters, Al Mulla attributed the increase in production to the "back, atoll and norese fields" in the Mediterranean.
Italy's Eni discovered the field in 2015, the largest gas field in the Mediterranean, with an estimated 850 billion cubic meters of reserves.
The Italian company completed the approval procedures for its development in February and is scheduled to start producing gas by the end of this year.
Egypt is in talks with liquefied gas suppliers to defer contracted shipments this year, aiming to cut purchases of 2018 as domestic gas production rises from new discoveries, cutting demand for imported high-cost gas.
http://economy-news.net/content.php?id=8457
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