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Egyptian Gas Production at 7-Year Low

NATGAS

Egypt's gas output has dropped below 5bn cfd for the first time in seven years in June according to MEES analysis.

  • The key driver has been the continued slump at the massive Zohr field but also the near-halving of output from BP's key Raven field to 450mn cfd.
  • Eni earlier this year postponed two sidetrack wells at Zohr which had aimed to offset some of the output slump, but recent speculation in Egyptian media suggest the Italian firm could make an about turn on that decision.
  • In the meantime, Egypt has been more aggressively targeting LNG imports with reports of possibly adding a further FSRU to increase import abilities.

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