Production from Egypt's Nooros Field has exceeded one billion cubic feet per day (Bcf/d) of natural gas, Egypt's state news agency MENA reported on May 16.
Italian oil major Eni, which began production at the Nile Delta offshore field in September 2015, had said last year it plans to raise production to more than 1 Bcf/d in the first quarter of 2017.
Once an energy exporter, Egypt has turned into a net importer in recent years, squeezed by declining production and increasing consumption.
It is racing to reverse that trend, speeding up the development of major gas discoveries, aiming to achieve energy self-sufficiency by 2020.
Recommended Reading
TPG Adds Lebovitz as Head of Infrastructure for Climate Investing Platform
2024-02-07 - TPG Rise Climate was launched in 2021 to make investments across asset classes in climate solutions globally.
Air Products Sees $15B Hydrogen, Energy Transition Project Backlog
2024-02-07 - Pennsylvania-headquartered Air Products has eight hydrogen projects underway and is targeting an IRR of more than 10%.
HighPeak Energy Authorizes First Share Buyback Since Founding
2024-02-06 - Along with a $75 million share repurchase program, Midland Basin operator HighPeak Energy’s board also increased its quarterly dividend.
Occidental Increases Annual Dividend by 22%
2024-02-11 - Occidental Petroleum Corp.’s newly declared dividend is at an annual rate of $0.88 per share, compared to the previous annual rate of $0.72 per share.
Atmos Energy Announces Quarterly Dividend
2024-02-11 - Atmos’ dividend marks the company’s 161st consecutive quarterly dividend.