Egypt Gas: More Discoveries Needed To Meet Ambitious Output Target

Egypt is hoping to raise gas output to 8bn cfd by 2021, an ambitious 23% hike from the record 6.5bn cfd hit in September considering the country’s high decline rates and the limited pipeline of large discoveries.

Egypt’s gas output hit a record 6.50bn cfd in September, signaling the end of LNG imports, and according to local media reports citing officials at the country’s oil ministry, output is slated to hit 8bn cfd by 2021.

Looking at which fields are to come online, or ramp-up, between now and then, it is hard to see where the extra 1.5bn cfd of gas output will come from. Italian firm Eni has recently raised its plateau for its 21.5tcf Zohr gas field from 2.7bn cfd, which it hopes to reach by the end of next year, to 3.2bn cfd, although this would mean reducing the field’s lifespan, barring a significant reserves upgrade. (CONTINUED - 972 WORDS)

DATA INSIDE THIS ARTICLE

chart Egypt Gas Output Forecast (Bn Cfd): Increased Zohr Output Should See Output Hit 7.57bn Cfd In 2020