With peak summer gas demand season approaching and Egypt’s output continuing to slump, Cairo is in desperate need of new discoveries to fill a bare project pipeline. Latest petroleum ministry data show that gas output from Egypt’s key offshore Mediterranean and onshore Nile Delta provinces both fell to multi-year lows for Q1.
Mediterranean output of 4.60bn cfd was the lowest since Q4 2020 and 11% below the Q3 2021 peak of 5.19bn cfd. The key source of the recent slump has been the same as that of 2021’s record Eni’s flagship 21.5tcf Zohr field, where output fell to 2.45bn for 2022 on repeated water breakthrough issues, with output falling further since (MEES, 28 April). (CONTINUED - 900 WORDS)
