Investments in Egypt’s Zohr to exceed $4 billion – EGAS official

offshore platformTotal investments injected into Zohr gas field is expected to surge to USD4 billion by the third quarter of this year up from USD3.8bn now, according to an official at the Egyptian Natural Gas Holding Company (EGAS).

The aggregate costs of Zohr gas field, occupying nearly 1mn sqm, amount to USD12 and 15 billion, according to the official.

Nearly 81.2% of the project is due to kick-start production this year end.

“After drilling nearly 7 to 8 wells, additional complementary, horizontal wells as well as those parallel to the main ones are to be drilled soon”, said the source.

The agreement regulating Zohr field has been signed with the Italian Eni company in 2014 whereas drilling kicked off in July 2015.

(Source: Almal News)


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