BP is set to begin production of gas from the North Alexandria concession in early 2017 than the earlier planned mid-2017, said Egypt’s petroleum minister Tarek El Molla
Output is expected to be around 12.74 cu/m per day in 2017 and touch 33.98 cu/m per day by the end of 2019, said the minister.
Egypt’s production of gas could aid the country with limiting energy shortage, which has affected industrial production across the country, said BP.
Earlier this month, the British oil major had been awarded three offshore exploration blocks, with an investment of US$229mn along with partners.
BP added that Egyptian authorities have been working to improve terms for foreign oil and gas businesses and introdcuce competitive pricing that would encourage investment.
Formerly an energy exporter, Egypt’s oil and gas production has been on the decline while consumption has been on the rise, forcing the country to divert supplies to the domestic market.
