Description of the Plan

The Egyptian Ministry of Petroleum and Mineral Resources plans to drill 35 new natural gas wells with an investment of more than $1.5 billion during fiscal years 2023-2024 and 2024-2025 to increase production and reserves.

Investment in the Mediterranean and Delta

Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla said a plan is underway to drill 45 natural gas wells in the Mediterranean and Delta, with an investment of about $1.9 billion. The Mediterranean has reserves of about 2.5 trillion cubic feet of gas.

Evaluation of International Tenders

At a meeting with Prime Minister Mostafa Madbouli, El Molla added that the results of international tenders to find natural gas in 12 land and sea areas of the Mediterranean and the Delta are being evaluated. These tenders closed at the end of July last year, according to a statement by the Egyptian cabinet.

Development of the Zor Gas Field

El Molla also mentioned that management plans to develop the Zor gas field include drilling and developing 20 wells, as well as 5 additional wells, starting in 2024. This is to maintain the production rate at the field, which currently stands at about 2.2 billion cubic meters of gas per day. He explained that this is possible due to measures implemented to support operational efficiency. The onshore station of the field is scheduled for completion in the middle of next year. It includes projects to develop and strengthen the underground electrical network, as well as the second stage to increase the capacity of treatment facilities and installation of compressor units.