(MENAFN) Egypt's Oil Ministry revealed a boost in the output capacity of the Zohr offshore gas field, currently standing at 2.7 billion cubic feet per day.
In a statement, the ministry confirmed that "the current production of Zohr gas field is eight folds of that in 2017, when the production started."
Oil Minister Tarek al-Molla also hailed this achievement in oil production, saying that it was "a standard accomplishment" and is expected to turn the country into "a regional power hub."
It was earlier unveiled that Zohr is targeting USD10 billion in foreign investments for the oil and gas industry during the 2018-19 fiscal year.
MENAFN2208201900450000ID1098911430
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.