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Egypt Today
24-03-2025
- Business
- Egypt Today
Egypt's oil production decline to 4.3B cubic feet per day in January 2025
CAIRO – 24 March 2025: Egypt's natural gas production has seen a significant drop of 20 percent year-on-year, falling to 4.3 billion cubic feet per day (bcf/d) in January. This marks the lowest production level since December 2016, as reported by the Middle East Economic Survey (Mees). The data suggests that this downward trend shows no signs of easing. In the West Delta region, gas production dropped by 3 percent month-on-month in January, reaching 3.1 bcf/d—its lowest point in eight years—despite the activation of additional wells from Shell's West Delta Deep Marine project earlier in the month. Meanwhile, production in the Western Desert has remained flat at 763 million cubic feet per day (mcf/d), a multi-decade low, and the Nile Delta region saw a significant drop to 332 mcf/d, the lowest level since mid-2014. The Egyptian government had set ambitious targets for 2025, with reports indicating a plan to increase domestic gas production by 30 percent, aiming to reach 6 bcf/d by year-end. However, current trends suggest the country may struggle to achieve these goals. Efforts to increase production are underway, though they may not be enough to reverse the declines. BP recently began production from the second phase of its Raven natural gas field in the North Alexandria offshore concession, which is expected to contribute 220 bcf/d of gas. However, Mees has described this projection as 'optimistic.' Dana Gas, a key player in the Nile Delta, is investing $100 million into developing new production capacity, including drilling 11 new wells. This project is expected to add 80 bcf/d of gas reserves. Despite these efforts, Dana Gas's production has halved to 80 mcf/d over the past seven years. US oil producer Apache remains hopeful for gas output improvements, having secured higher prices for its new production. The company is launching a $60 million drilling program in the Western Desert, aiming to boost gas production by 80 mcf/d starting this month. However, the outlook for Egypt's oil production remains grim. National oil output fell to 523,000 barrels per day (bbl/d) in January, the lowest in over 40 years. The Western Desert, which accounts for nearly half of the country's oil production, saw a 2 percent month-on-month decrease, dropping to 274,000 bbl/d.
Zawya
24-03-2025
- Business
- Zawya
Egypt's oil, natural gas output decline 20% YoY in January
Egypt's oil and gas output declined in January 2025, the Middle East Economic Survey (Mees) data showed. 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. (
Al-Ahram Weekly
06-03-2025
- Business
- Al-Ahram Weekly
British Petroleum completes drilling Fayoum-5 gas well in North Alexandria Offshore Concession - Economy
Global energy giant British Petroleum (BP) announced Thursday that it has completed drilling operations at the Fayoum-5 gas discovery well in the North Alexandria Offshore Concession. A company statement indicated that this marks the conclusion of BP's four-slot drilling campaign in the West Nile Delta (WND) region. The drilling of the Fayoum-5 well started on 14 February this year using the Valaris DS-12 rig. During the drilling process, the well encountered four prospective Messinian gas reservoirs with a total sand thickness of 50 metres at a measured depth of approximately 2,860 metres. BP plans to tie back this discovery to the existing onshore Giza/Fayoum infrastructure as part of the broader West Nile Delta project. This discovery follows BP's recent success at the King-2 well in the North King Mariout Offshore Concession, marking the company's second consecutive gas discovery in recent months. "Since January 2024, our offshore drilling operations have remained uninterrupted. This successful discovery of Fayoum-5, following the recent achievement of King-2 and the startup of the Raven second phase, further underscores BP's long-term commitment to timely investment in Egypt," Nader Zaki, BP's regional president for the Middle East and North Africa, expressed. "It also highlights the company's support for its growing domestic gas demand as a strategic partner in the country's energy sector," he added. Meanwhile, Wail Shaheen, vice president of BP Egypt, emphasized the company's focus on maximizing production from existing resources while exploring new opportunities. "The success of this latest exploration — our second following King-2 — highlights the strategic advantage of its proximity to existing infrastructure in the West Nile Delta, enabling a fast tie-back and accelerated production," Shaheen stated. The WND Gas Development encompasses a series of gas condensate fields located offshore Egypt within the North Alexandria and West Mediterranean Deepwater concessions. The Raven field, the final phase of the WND project, has been in production since early 2021. Its initial phase involved the development of eight subsea wells situated up to 65 km offshore in water depths ranging from 550 to 700 metres. BP is the project operator, holding an 82.75 percent stake, while Harbour Energy owns the remaining 17.25 percent. Egypt's gas production fell to an eight-year low in 2024, reaching 4.87 billion cf/d, according to a report by the Middle East Economic Survey (MEES). The output of the offshore Mediterranean fields, where the Zohr and other smaller fields are located, dipped by 18 percent through the year to reach 3.54 billion cf/d, its lowest in six years. Follow us on: Facebook Instagram Whatsapp Short link:
