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Investments in Egypt's Zohr field hit LE4 bln until August

Investments in Egypt's Zohr field hit LE4 bln until August

Cairo: The work progress in Zohr field amounted to about 5.89%, with investments of about EGP 4bn so far until August 2017, according to Petropel's statement on Monday.

Head of Petropel Atef Hassan said that seven wells have been drilled and their productivity were confirmed, adding that the work is proceeding in parallel in all directions to accelerate the linking of first stage wells of production on time.

Hassan explained that work is being intensified in the construction of the Port Said ground treatment plant and the maritime facilities. Meanwhile, he pointed out that the marine control platform is being constructed, to be ready for operation after finishing the marine installations and starting the installation of the production facilities on the surface of the platform, which was completely manufactured locally by Petrojet.

Minister of Petroleum and Mineral Resources Tarek El-Molla said last week that Zohr field's investmens amounted to 12 billion and were planned to reach 15.6 billion at the end of the project.

Eni CEO Claudio Discalzi said earlier this year in a presidency statement that Zohr field will start producing natural gas before the end of 2017.

Petroleum company Petro Shorouk, which is responsible for Dahr field's development, was established by the Egyptian Natural Gas Holding Company (EGAS) and Ayok, which is completely owned by Italian company Eni.

El-Molla said in a statement on Monday that the work of the new natural gas production projects in coordination with the foreign partners is proceeding according to the specified time schedules and at a remarkable performance rate.

He also stressed that one of the most important axes in the development and modernisation of the petroleum sector is raising the efficiency and increasing the existing field's production.


Source: Daily News Egypt

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