Egypt Targets 250 Million Cubic Feet Daily Gas Production Boost

Minister of Petroleum and Mineral Resources Karim Badawi has announced that Egypt's Natural Gas Holding Company (EGAS) aims to increase natural gas production by an additional 250 million cubic feet per day from fields in the Mediterranean, particularly the Zohr and West Mina fields. This target is expected to be met before the end of the year.

The goal also includes adding around 80 million cubic feet per day from fields in the Western Desert's Meleha area by the end of September, following the completion of the second phase of the gas processing plant.

Badawi emphasized that efforts to support and increase domestic natural gas production are ongoing through developing existing fields, expanding exploration activities, and accelerating the development and connection of new discoveries to the production map.

The minister highlighted the need for substantial long-term investment in the gas industry, particularly deep-water operations in the Mediterranean, citing the $95 million cost of drilling the Velox-1X well as an example.