Egypt Gas Project To Produce 6 TFC

Egypt’s petroleum minister, Tarek El-Molla, has told Sky News Arabia that he expects a new Egyptian gas project to reach a minimum production capacity of at least 6 tcf.

• El Molla told UAE state news agency WAM on Tuesday that Egypt has begun a USD$1.8 billion programme to drill natural gas exploration wells in the Mediterranean Sea and Nile Delta.
• Reuters reports that the project will be a joint venture by Eni, Chevron, ExxonMobil, Shell, and BP with an aim to drill 35 exploration wells within two years, 21 in the current 2023/2024 financial year and 14 in the next year.
• Egypt state-controlled energy firm announced the discovery in January as part of a drive to replace gas imports from Russia by 2025.
• Eni said in a statement in January, “the Nargis-1 exploration well can be developed leveraging the proximity to Eni's existing facilities."