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Egypt has been struggling with a decline in natural gas output and in September 2024 its domestic supplies fell to a seven-year low CAIRO: BP has started production from the second development phase of the Raven field offshore Egypt, the global oil company said on Sunday. BP said in a statement that the new wells are set to produce approximately 220 billion cubic feet of gas and 7 million barrels of condensate. Egypt has been struggling with a decline in natural gas output and in September 2024 its domestic supplies fell to a seven-year low. The decline has turned the country back into being a net importer, buying dozens of cargoes, but it has been in talks with international oil and gas companies to increase their investments to offset the natural decline. The focus of the Raven Infills project has been to fight natural decline and increase production while maximizing our existing infrastructure to meet Egypt’s domestic market demand at pace, Nader Zaki, BP Regional President for the Middle East and North Africa, said. |
