Fresh from hitting an all-time high gas output record of 6.50bn cfd in September and reaching gas self-sufficiency, Egypt’s state oil firm, EGPC, has set out its targets for the next financial year, which starts in July.
It has set out seven key projects which it hopes will add 2.83bn cfd to output which is running at an all-time high of 6.3bn cfd in Q4 (see chart). The lion’s share of the additions, some 1.2bn cfd, will come from Eni’s 21.5tcf Zohr gas field which is currently producing at around 2bn cfd. The Italian firm is aiming to hit plateau of 3.2bn cfd by December this year. (CONTINUED - 1770 WORDS)