Zohr gas field produces over 3bln cfpd, attracts $10.4bln investments

Cairo –  Zohr field’s natural gas production exceeded 3 billion cubic feet per day (cfpd), making up 40% of Egypt’s total gas output, the Minister of Petroleum and Mineral Resources, Tarek El-Molla, revealed.

Petro Shorouk Company managed to drill several wells in the southern area of the field and put them into production, bringing the total number of operating wells to 15, according to a statement on Monday.

This came during the general meeting of Petro Shorouk Company and Belayim Petroleum Company (Petrobel), headed by the Minister of Petroleum, Tarek El-Molla, to approve the financial results for fiscal year 2019/2020.

A total of $10.4 billion has been invested in the field from the commencement of operations at Zohr field development project until the end of last June, the Chairman of Petro Shorouk Company and Petrobel, Atef Hasan, said.

The current output capacity of Petrobel’s fields reached about 1 million barrels of oil equivalent per day, he added.

The output capacity of fields reached about 1.1 billion cubic feet of gas per day and around 70,000 barrels of crude oil per day.

During FY19/20, the company’s daily output reached 12,000 barrels of condensates and 280,000 tonnes of liquefied petroleum gas (LPG).

In addition, the output capacity of the four operating gas wells at Baltim South West gas field reached 415 million cfpd.

Petrobel has invested $720 million in development, exploration, and operation of oil and gas wells during the last fiscal year and managed to cut costs by more than $50 million.