It is no secret that Egyptian gas fields, especially those in the country’s offshore Mediterranean production heartland, suffer from steep decline rates. But latest MEES analysis indicates just how precipitous these decline rates are.
The country’s overall output averaged just 3.96bn cfd for January-April 2016 (and just 3.87bn cfd for April), down by 12% or 540mn cfd on the same period a year earlier despite several new fields, such as Eni-operated Nooros, coming online in the meantime. Leaving out new start-ups, Egypt’s Oil Ministry estimates decline at currently-producing fields at a vertiginous 110mn cfd per month. (CONTINUED - 1627 WORDS)