{"id":597664,"date":"2023-08-13T00:00:00","date_gmt":"2023-08-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/13\/gas-output-hits-three-year-low-in-2q-2023\/"},"modified":"2023-08-13T00:00:00","modified_gmt":"2023-08-13T00:00:00","slug":"gas-output-hits-three-year-low-in-2q-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/13\/gas-output-hits-three-year-low-in-2q-2023\/","title":{"rendered":"Gas output hits three-year low in 2Q 2023"},"content":{"rendered":"

Total gas output in Egypt fell by 5% in 2Q 2023 from the previous <\/strong> quarter <\/strong> to 5.88 bn cubic feet per day (cf\/d), its lowest since 2Q 2020, Mees<\/a> reports. Output was down 9% compared with the same period a year before, and nearly 1.2 bn cf\/d below the record of 7.07 bn cf\/d in 3Q 2021 as output in offshore and onshore fields fell.<\/p>\n

Zohr is <\/strong> reportedly <\/strong> producing less: <\/strong>Eni\u2019s giant Zohr field saw record output of 2.76 bn cf\/d in 3Q 2021 but output has now been effectively capped at 2.3 bn cf\/d on the back of \u201cwater infiltration issues,\u201d the industry news site says. The Italian firm\u2019s flagship field saw output drop by 11% y-o-y<\/a> in 2022 to 2.5 bn cfd, Mees reported earlier. The government recently co<\/a> nfirmed<\/a> that the field is currently producing 2.3 bn cf\/d.<\/p>\n

Remember: <\/strong>Zohr, the Mediterranean\u2019s largest-ever gas find, accounts for some 38% of Egypt\u2019s gas output. The discovery of the field in 2018 allowed the country to pull the plug on gas imports<\/a> and turned it into a net natural gas exporter.<\/p>\n

Nile Delta output at its lowest in eight years: <\/strong>Gas output from onshore Nile Delta fields fell by 5% in 2Q 2023 to 485 mn cf\/d, an 18% drop y-o-y and the lowest figure since 3Q 2015. Emirati firm Dana Gas, which derives all of its local output from the area, recently reported (pdf)<\/a> a 14% y-o-y fall to 22.6k boe\/d during the quarter \u201cdue to natural field decline and reduced investment activity.\u201d Producers in the Nile Delta and the onshore Western Desert have \u201cslashed gas-related investment,\u201d according to Mees. <\/p>\n

Not all is lost: <\/strong>Gas output in offshore Mediterranean projects fell by 5% q-o-q to 4.37 bn cf\/d, the lowest quarterly figure since 4Q 2020. However, there could be an uptick soon thanks to fresh drilling campaigns<\/a> from companies including BP and Shell, Mees says. <\/p>\n

REMEMBER- We need more gas: <\/strong>In the immediate term, spiking demand for electricity amid a heatwave has led to shortages of gas that have forced the government to institute nationwide rolling blackouts<\/a>. In the longer term, Egypt wants more gas to feed to its liquefaction facilities for re-export to Europe as it seeks to become a regional energy hub for the continent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Production fell 9% from the same quarter in 2022<\/p>\n","protected":false},"author":1,"featured_media":597665,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[93,72,91,4396],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-597664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-energy","tag-enterpriseam","tag-oil-and-gas","tag-zohr-field","wpautop","entry"],"acf":{"mongo_id":"846ecdd4-0a16-40f5-8c1e-ef52f3265a06","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/551.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s gas output hits three-year low in 2Q 2023","related_issue":[597653],"teaser":"Production fell 9% from the same quarter in 2022","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.aeb93eda-b7b3-41c3-acd4-37e91896ce20.mp3"},"yoast_head":"\nGas output hits three-year low in 2Q 2023 - 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The field\u2019s last production milestone came in September last year when output reached 2 bcf\/d. Estimates given by field operator Eni\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":653908,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/10\/24\/drilling-operations-in-zohr-to-resume-in-december\/","url_meta":{"origin":597664,"position":3},"title":"Drilling operations in Zohr to resume in December","author":"enterpriseam admin","date":"24 October 2024","format":false,"excerpt":"Plus- EGPC signs 4 MoUs with a number of firms for energy exploration","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2107.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":595963,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/15\/egypts-zohr-natgas-output-triples-in-1h2019\/","url_meta":{"origin":597664,"position":4},"title":"Egypt\u2019s Zohr natgas output triples in 1H2019","author":"enterpriseam admin","date":"15 August 2019","format":false,"excerpt":"Zohr natgas output triples in 1H2019: The Zohr natural gas field produced some 11.3 bn cubic meters (bcm) in 1H2019 at the current rate of 68 mn cm\/d or 2.4 bcf\/d, Russian energy major Rosneft said yesterday. 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