Egypt's oil, natural gas output decline 20% YoY in January
The natural gas output shrank by 20% year-on-year (YoY) to 4.312 billion cubic feet per day (bcf/d) in January, marking its lowest monthly level since December 2016.
On a monthly basis, the natural gas production from the West Delta region dropped by 3% in January to 3.1 bcf/d, recording an eight-year low.
The decline came despite more of Shell's West Delta Deep Marine wells going online in early January.
Output from the Western Desert has been stable since November at 763 mcf/d, while output from the onshore Nile Delta region retreated to its lowest level since mid-2014 to 332 mcf/d.
'Whilst there are some positive signs for Egypt's gas output trajectory in 2025 — though, given steep underlying decline rates, the smart money is on slower decline rather than overall gains — for oil there are few if any positive signs,' Mees stated.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
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