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The government is working to increase local gas stocks by more than 15% y-o-y in the current fiscal year, pushing up the country’s total field reserves by some 300 bn cubic feet to 2.2 tn cubic feet of recoverable natural gas, Al Arabiya reports, citing an unnamed government official. Three international companies are currently stimulating wells in the region, aiming to lift production and reserves by 10-15% annually, the source added.
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Domestic gas reserves and production are up, though likely not by enough to keep pace with rising energy demand, which hit an all-time high of 39.4 GW on Sunday, surpassing the previous record, set only the day before. Summer demand is expected to peak at 7.5 bn cubic feet a day (bcf/d) in July and August, leaving the country with a 3.0 bcf/d supply gap to be filled with LNG imports or piped Israeli gas, according to industry publication Middle East Economic Survey (Mees).
REMEMBER- Following a costly few months of energy imports to bridge the gap between local production and demand, the Oil Ministry has been working to increase local energy production in 2025. We reported in February that the government is planning to clear all arrears owed to international oil companies by the end of 2025.
Adding to the hoped-for increase in local production and gas reserves is Shell’s investments in its Mediterranean concessions, which will see the company funnel USD 160 mn into drilling exploratory wells in the North East Amriya and North Cleopatra concessions in 2H 2026, Asharq Business reports separately, citing an unnamed government official.
Italian energy giant Eni is also aiming to add some 60 mcf/d of new gas output from the Zohr field next month, as the company brings its Zohr 13 well online, Asharq Business reports, citing an unnamed government official. The added volumes could provide a lift to our largest gas field — which has seen its output fall to around 1.4 bcf/d down from 1.5 bcf/d at the start of the year, the official said.
