M a r k e t N e w s
Gas production in Africa records 50 million cubic feet increase
Posted on : Monday , 9th November 2015
Gas production in Egypt increase by 50m cubic feet in gas production sending a sigh of relief to gas users in the country, a senior official in the Egyptian Natural Gas Holding Company (EGAS)
According to the official the rate of natural gas increase to nearly 4.3bn cubic feet compared to 4.25bn cubic feet last month.
The official added that the gas production in Egypt increased by 50 million cubic feet per day after connecting two wells to production lines from Badr El-Din Petroleum Company (BAPETCO) and Balayem Petroleum Company.
He added that this number is expected to increase after the country announced a discovery of more natural gas in the coastline.
The total production of the two wells reached 83m cubic feet of gas per day that have compensated for the natural decline of fields production.
The official pointed out that production rates decreased by 130 million cubic feet per month, compared to nearly 100 million cubic feet in Fiscal Year (FY) 2014/2015, due to the natural decline of fields’ production.
EGAS has an agreement with a number of foreign companies to import 90 shipments of liquefied gas for two years. The company is currently negotiating to rent another gasification ship to increase the amount of imported gas to nearly EGP 1bn per day.
The accumulated government’s dues to foreign partners resulted in the decline in the production of natural gas because partners delayed the connection of their projects to production lines since 2011, according to the official.
Source : constructionreviewonline.com
