International Gas Online   Source: XinHua News Agency

Writer: Shi Yang  Zhen Siyuan   Date: 2017-07-24

Key words: Natural gas  Energy export  Oil and gas field

In 2017, Egyptian oil minister Taric Molla said that Egypt will exploit new oil and gas field in the Red Sea area for developing.

Egyptian petroleum company signed an agreement with TGC Company and the United  States ShiLun Berger Company Separately that day, they will co-operate in collecting the geographical data of productive area.

Molla attended the signing ceremony. He said that the data collecting will be finished in one year, at the same time, Egypt is looking for the official partner for exploiting the Rea Sea and South area together, at present, it is being tendered.

Since 2011, Egypt' s economy has been declined because of the troublous political situation. Due to the decline of productivity and the increase of consumption, Egypt became an energy import state from an energy exporter in recent years. At present, the average daily production of Egyptian gas is one hundred and twenty-three million cubic meters and the average daily consumption is one hundred and forty-five million cubic meters.