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Arab Finance: Zohr gas field attracted investments worth $741 million in fiscal year (FY) 2021/2022, bringing total investments in the field since it started operations to more than $12 billion, President of Petro Shorouk Khaled Mowafy said in a meeting with the Minister of Petroleum and Mineral Resources Tarek El-Molla on August 29th.
Natural gas production from Zohr field amounted to about 2.7 billion cubic feet per day and around 5,000 barrels of condensates a day in FY 2021/2022, Mowafy highlighted.
On the other hand, the daily output of Belayim Petroleum Company (Petrobel) stood at more than 1 billion cubic feet of natural gas, along with around 65,000 barrels of crude oil and 11,000 barrels of condensates, Mowafy explained.
Petrobel saw total investments of $714 million, he noted, adding that production from 13 wells began in Sinai fields at initial production rates of about 7,300 barrels a day.
These comments were made during the ordinary general meeting (OGM) to endorse the operational results of both Petro Shorouk and Petrobel for FY 2021/2022.
