Egypt Gears Up for Natural Gas Surge with Zohr's New Drilling Plans

Egypt aims to boost natural gas production by drilling new wells at the Zohr field starting in 2025. The move, led by Petroleum Minister Karim Badawi, responds to production declines due to investment hesitancy. Egypt is also enhancing regional partnerships, particularly with Greece, to facilitate natural gas transport.

Egypt is setting its sights on increasing natural gas production from key fields, notably the giant Zohr field, starting in 2025, according to Petroleum Minister Karim Badawi.

The Egyptian government plans to revitalize output at Zohr by initiating new drilling developments early in 2025, as highlighted in a statement by the ministry. Although production levels held steady at about 2 billion cubic feet per day for the fiscal year ending June 2024, a significant decrease from its peak of 3.2 bcf/d in 2019 highlights the urgency of new investments.

Foreign companies have been cautious due to Egypt's financial arrears, but Prime Minister Mostafa Madbouly stated in August that plans are underway to rejuvenate and expand production levels. Meanwhile, Egypt is exploring enhanced pipeline imports from Israel and Cyprus and has entered into a strategic partnership with Greece's Copelouzos Group to boost Eastern Europe and Greece's gas trade.

(With inputs from agencies.)