By Ahmad Abu El-Hamd
The Ministry of Petroleum and Mineral wealth has announced that 7 wells have been dug within ‘Zohr’ gas field development project in Shrouk Al-Baharya in the Mediterranean sea, adding that their production is assured by two tests of wells ‘Zohr-2’ and ‘Zohr-5’.
Eng. Tarek Al-Mulla, Minster of Petroleum said , during the 2nd General Assembly of ‘Petro Shorouk’ company, that ‘Zohr’ gas field development project is moving according to a work programme to achieve the first stage of production by the end of 2017, at a production rate of approximately one billion Cubic Feet per day; furthermore, the remaining stages of the project will be completed and the production is expected to amount to 2.7 billion Cubic Feet per day by 2019.
Eng. Atef Hassan, Chairman of PETROBEL, Balaeim Petroleum Company, notified that the investments of the current fiscal year 2017-2018 amounted to about USD 3.8 billion for the activities of exploration and completing the first stage of ‘Zohr’ development project. He added that the total investments of ‘Zohr’ gas field development projectwill reach about USD 8 billion by the end of 2017-2018, and it is planned to amount to USD 16 billion over the lifetime of the project.
