Egypt muscling in on global gas production

12 Sep 2017   Egypt

Baker Hughes, a GE company, announced September 9, 2017 a major subsea contract from Petrobel for phase two of the “supergiant” Zohr Gas Field situated in the Mediterranean Sea, off the Egyptian coast. BHGE will provide project management, engineering procurement, fabrication, construction, testing and transportation of a subsea production system, and will support the installation, commissioning and start-up operations. Lasting impact If Zohr delivers on the promise, it would have a lasting impact on Egypt’s gas future and repayment of its $3.5 billion debt to foreign gas companies, a figure quoted by Eng. Tarek El-Molla, Egyptian Minister of Petroleum and Mineral Resources, as reported in Egypt’s state media in February 2017. “The Zohr gas field is playing a major role in the development of Egypt’s domestic energy resources, revenue generation and economic growth,” said Eng. El-Molla, following the recent signing ceremony. Lorenzo Simonelli, president and CEO, BHGE, said: “The […]

Comments are closed.