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The main focus of Egypt’s upstream in recent years has been its gas output, which rose to 6bn cfd in June, a six-and-a-half year high ( MEES, 13 July ). Crude output on the other hand fell to a 35-year low in March last year but has since rebounded, posting a 10-month high 645,000 b/d in May.
Egypt’s Petroleum Ministry is targeting oil output of 700,000 b/d by end-2017. Longer term it hopes a recently-launched bid round will provide a boost ( MEES, 25 May ).
The key blocks on offer are in the Western Desert. Since 2011 the Gulf of Suez has seen its importance wane. It has been overtaken by the Western Desert, the country’s key oil province, where May output of 360,000 b/d was 55% of national output. (CONTINUED - 664 WORDS)
DATA INSIDE THIS ARTICLE
|chart||On The Rebound: Apache Gross Egypt Output|
|chart||Eni Net Egypt Output: Gas (mn cfd) Hits Record 1.07mn cfd In 1H18 As Zohr Ramps Up…|
|chart||...Whilst Oil ('000 B/D) Shows Tentative Signs Of A Rebound On Western Desert Gains|