El Molla: $27.3 billion to be invested in gas fields next year

offshore

$15.5 billion worth of exploration agreements to be signed next year.
Some 230 new wells will be drilled at a cost of USD 2 bn in 2018, while approximately USD 27.3 bn will be invested in the Zohr, North Alexandria, and Nooros fields, Oil Minister Tarek El Molla said yesterday, Al Shorouk reports.

El Molla also forecasts signing 83 new exploration agreements worth a total of USD 15.5 bn, in addition to USD 3.8 bn worth of new petroleum refining projects. Natural gas projects are expected to increase 50% in 2018, with that rate accelerating to 100% by 2020, El Molla said.

The minister also announced that the second edition of the Egypt Petroleum Show EGYPS will kick off on 12 February 2018 to showcase short- and long-term plans in the oil and gas sector.

(Source: Enterprise.press)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s