The Egyptian authorities will invest 1.2 billion dollars in the next fiscal year 2023-2024 in the Zohr gas field, the largest located in the Mediterranean Sea.
This was announced in a statement by Khaled Mowafi, president of the Belaim Petroleum Company, a joint firm between the Italian giant ENI and the state-owned Egyptian General Petroleum Corporation.
Mowafi explained that the goal is to implement an ambitious field development plan by expanding the drilling of new wells and repairing others. He also said that projects will be undertaken to increase the efficiency of the facilities in the land production plant.
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