Petroleum Africa
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Sunday, February 4, 2018
ENI and Egypt are working together to fast-track output from the Zohr gas field to its peak production rates. Egypt is looking to end its need to import LNG and the faster the field reaches peak production, the faster that can happen.
While the government had targeted 2019 for the end of LNG imports, Oil Minister Tarek El Molla, speaking at the televised ceremony to officially inaugurate the field, said with output from Zohr fast-tracked, imports could end as early as this year.
The field will pump 1.7 Bcf/d before the end of 2018.
“The 350 billion cubic feet that we’re now producing can save us from buying three cargoes of LNG, which means we can save $60 million per month — about $720 million a year,” El Molla said. “By the end of 2018, when the country reaches self-sufficiency, it will be able to save $250 million a month.”
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