The Egyptian Ministry stated that the investments include the implementation of an ambitious plan to intensify the field development activities by expanding the drilling of new wells and repairing and re-completing some of the existing wells.
The statement came after the ministry approved the budgets for the next fiscal year 2023/2024 and the two amended budgets for the current fiscal year 2022/2023.
The statement indicated that projects will be implemented to raise the efficiency of the facilities at the onshore production plant of the field, including two projects to improve operating efficiency and associated water treatment, in addition to long-term projects such as the establishment of the compressor station at the “Zohr” treatment plant and linking it to the compressors of the “Al-Jameel” station, in addition to what will be implemented. Research and exploration activities.
The budget for the next fiscal year 2023/2024 and the amended budget for the current fiscal year include investments worth more than $800 million per year, aimed at implementing field development work and increasing exploration activities.
And the Egyptian Ministry of Petroleum and Mineral Revolution announced at the beginning of February that the natural gas liquefaction plant in Damietta had exported 7.2 million tons of liquefied natural gas during the years 2021 and 2022, of which about 4 million tons were exported during the past year, which is the largest amount that the plant carries out. exported ever since it started in 2005.
At the end of last December, the ministry announced that Egypt had produced about 50.6 million tons of natural gas during 2022.
Egypt achieved, according to the ministry’s statement at the time, a record number of natural gas exports amounting to about 8 million tons in 2022, compared to about 7 million tons the previous year.
The value of natural gas exported during the year amounted to about $8.4 billion, compared to about $3.5 billion in 2021, i.e. an increase of 140 percent over 2021, due to the increase in LNG export prices globally.
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