The Phoenix: Prospects of Egypt’s Oil and Gas Sector

... petroleum products monthly for five years). Under the consequent circumstances, Egypt had to buy additional amount of products on the spot market and rush into signing new supply contracts with other exporters (e.g. Iraq). A Pleasant Surprise The supergiant gas field Zohr was found by Italian Eni in August 2015, only a few months after Egypt acquired its first LNG importing facilities. Situated 120 km off the coast of Egypt, the field contains an estimated 850 billion cubic meters of natural gas. The production on Zohr is to start by the end of 2017, and the production is to reach as ...