Discussing means of exporting Egyptian natural gas

Three working groups including technical, economic and financial experts from the general Egyptian organization for petroleum and the companies affiliated to the sector are starting to evaluate exporting and manufacturing the natural gas locally.

These groups will present the results of their work to a supreme committee under the chairmanship of Egyptian Petroleum Minister Sambeh Fahmi to prepare and form the agreements that will be signed in the future, in addition to the alternative raised for exporting and giving a price, possible markets, means of developing the discovered fields and putting them on the production map.

This will be done in light of the new gas and petroleum discoveries that were lately announced in deep water in the Mediterranean Sea.

An official source in the general Egyptian organization for petroleum told ArabicNews.com that the required investments for developing the new fields reach $1 billion, especially as they are in deep water that reaches 1,300 meters and as these operations require the use of digging equipment that costs $120 thousands daily in addition to the necessary human forces.