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Rosneft: Gas Production in Egypt Reaches 11.3 bcm

Rosneft: Gas Production in Egypt Reaches 11.3 bcm

Thursday, 15 August, 2019 - 10:45
Gas field of Egypt (File photo: Reuters)

Rosneft, Russian Oil Company, announced Wednesday that production in Zohr field amounted to 11.3 billion cubic meters (bcm) of gas, which is 3.6 times more than the same period last year.

Current production level is 68 million cmd and by the end of 2019, gas output is estimated to reach 76 million cmd.

Zohr field, largest gas field in the Mediterranean, was discovered in 2015. The project is being implemented as a concession between Italian Eni with 50 percent share, Rosneft with 30 percent, while British BP and Mubadala Petroleum each has 10 percent.

After the field’s start-up in December 2017, its development is going ahead of schedule, the onshore gas treatment capacity of the Zohr project has been continually increased, Rosneft said in a statement.

At the moment, 11 production wells, three offshore pipelines, an offshore management platform, and all eight production trains of the gas treatment plant have been commissioned.

Meanwhile, Egyptian Minister of Petroleum Tarek al-Mulla announced a program to increase oil production and make further oil discoveries.

The minister said that new mechanisms have been put in place to benefit the interests of all parties and encourage international companies to make greater investments in the fields of research and exploration in Egypt.

Mulla pointed out that the average production of crude oil and condensate is currently about 630,000 barrels per day (bpd). The target for this figure is about 690,000 bpd for the end of the current fiscal year.

The Minister pointed out in a press statement, of which Asharq al-Awsat has received a copy, that an integrated work plan is underway to expand the use of natural gas as a fuel for cars and encourage citizens to convert their cars to a dual fuel system through payment facilities.

He pointed out that the Ministry aims to convert 50,000 cars annually, an increase from last year which saw the conversion of 33,000 cars.

There are about 280,000 cars currently running on natural gas in Egypt, being served by 187 stations and 72 conversion centers. Last year, the number of converted cars reached 33,000 compared to about 14,000 cars during the previous year.

An executive plan has been developed for the next three years to expand the natural gas and liquid fuel stations with a total of 54, in many cities and governorates.

One of the national companies involved in the marketing and distribution of petroleum products will introduce natural gas supply service in its stations.

The Minister explained the price difference between gas and gasoline will lead to covering the costs incurred by car owners to convert their cars within a short period of using natural gas.

He praised the extended cooperation with MSME Development Agency in providing the necessary funding for the car owners.

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