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Pharaonic Petroleum Company, a bp and EGAS joint venture (JV), has concluded preliminary engineering studies for the project, the official noted
The Egyptian Natural Gas Holding Company (EGAS) has agreed with Shell and bp to begin production from the Harmattan natural gas field in the Mediterranean Sea during the first quarter (Q1) of 2026, with initial investments estimated at $370 million, a government official told Asharq Business.
Pharaonic Petroleum Company, a bp and EGAS joint venture (JV), has concluded preliminary engineering studies for the project, the official noted.
The project is expected to have a daily production capacity of 125 million cubic feet of natural gas and 3,300 barrels of condensate.
Egypt aims to increase natural gas production rates by the end of 2024 to nearly 5 billion cubic feet daily, compared to about 4.3 billion cubic feet currently. |
