Egypt’s top producer Eni saw its net Egypt gas output rebound 4% from Q4’s two-year low to 1.373bn cfd for Q1 2023. This despite continued water production issues at the firm’s key 21.5tcf Zohr gas field that saw gross output dip to just 2.1bn cfd in March, accelerating the firm’s plans for further development drilling (MEES, 28 April).
While output recovered for Q1, it is still 6% down year on year and 13% below Q2 2019’s peak of 1.581bn cfd (see chart). Net Egypt oil output continues to slide: Q1’s 69,000 b/d was down 9% on Q4 for a two-year low. Though this slump is echoed by other key oil producers (MEES, 5 May), in Eni’s case the fall appears attributable to the sale of several Western Desert stakes in January to US firm Apex Energy (MEES, 13 January). (CONTINUED - 147 WORDS)
