The Italian company Eni is considering digging two new wells in a gas field in Egypt during the next year, at an investment cost of about 360 million dollars, and a government official revealed to the East.
The digger “Dhahr-Sibm 10,000”, which is affiliated with “Eni”, is currently carrying out digital digging operations 9 and 13 in the Zahr operations area at an investment cost of about $ 160 million. The government official disclosed that the current drilling operations aim to add 149 million cubic feet per day of natural gas to the production of the Zahr field by the end of next May.
The average production in the back field is currently about 1.5 billion cubic feet per day, and it is much lower than the peak that reached in 2019, which is estimated at 3.2 billion cubic feet per day.
Egyptian Prime Minister Mustafa Madbouly said last Thursday that “Eni” officials confirmed that the company has a plan to expand drilling operations in the Dhahr field during the next two years, with new discoveries expectations and an increase in production volume.
In response to the East questions about the two new fields, Eni replied: “As mentioned by the CEO of global resources operations, Juido Brosco, during our recent update on financial markets, we have plans to resume activities in our operations in the Red Sea and the Western Sahara, and of course in the Mediterranean, with two side wells dug in the Dhahra field to complete the final development plan, in addition to some other activities within the field.”
Foreign companies have started exploration and production of oil and gas in Egypt at a faster pace in recent months, including the start of digging new wells to explore gas in the western Mediterranean by the company “Chevron”, according to statements by the Egyptian Minister of Petroleum last month.
Egypt provided foreign companies new incentives to increase gas production, which is to allow the export of a specific share of new production, so that their revenues are used to pay the required dues, in addition to raising the price of these companies' share of the new production of gas.
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