Production of Zohr field over the fiscal year (FY) 2022-2023 hit 2.4 billion cubic feet per day (bcf/d) of natural gas, in addition to 3,700 barrels of condensates daily, Egypt’s Minister of Petroleum and Mineral Resource Tarek el-Mulla announced on Monday.
Production of Zohr 20 well will start by the end of October to maintain reserves and production.
In statements yesterday during a meeting of the general assemblies of Petroshrouk and Belayim Petroleum Company (PETROBEL) to approve their results of the work of FY 2022-2023, the minister added that there are opportunities for increasing oil and gas production through more intense exploration operations, MENA news agency reported.
The minister also noted that PETROBEL and Italy’s ENI are considered successful models for co-operation and integration in the Egyptian oil industry thanks to their expertise and huge potentials in making new exploration sites.
El Molla commended Egypt’s successful partnerships with ENI, BP, Rosneft and Mubadala companies in Zohr field project as well as the efforts by PETROBEL to maintain production stability.
He called for intensifying activities of drilling, discovery and exploration as well as working out applicable solutions with the use of state-of-the-art technologies to increase production.
Meanwhile, Petroshrouk Chairman Khaled Mowafy reviewed the company’s annual operational results and said that production of oil, natural, condensates and butane gas reached 93 million barrels with total investments of $737 million.