The government has raised its target for natural gas production to 7.95 bcf/d during FY2019-2020, up from 7.5 bcf/d in the current plan, an industry source told the press.
Linking the second development phase of wells at the North Alexandria field, as well as an expected increase in production from the Zohr field, will offset the annual 10% fall in production due to field maturation.
The ministry is also planning to complete 11 natgas projects by 2023 at a combined investment value of USD 18 bn to increase production by some 2 bcf/d.
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