(Ecofin Agency) - Toward the drive to achieve self-sufficiency by 2020, Egyptian oil companies have increased gas production from their respective assets. Companies such as Pharaonic Petroleum Company and North of Sinai Petroleum Company (NOSPCO) have succeeded in producing 110 Mmcf/d and 70 Mmcf/d of natural gas respectively.

Pharaonic has completed the Phase 3 of its development operations for the Ras El Bar field located in Ras El Bar Concession in Nile Delta with an investment of $265 million. As a result, the company succeeded in producing 110 Mmcf/d of natural gas, which is later expected to increase to 500 Mmcf/d.

Meanwhile, NOSPCO has completed the Phase 2B of the development of its North Sinai field with total investments of $48 million. The company also succeeded in producing 70 Mmcf/d of natural gas and expects to increase the field’s total production to 200 Mmcf/d of natural gas in 2017.

NOSPCO has also began the development plans for its Taw field in the Mediterranean Concession in the fiscal year 2016/2017 to boost natural gas production to 230 Mmcf/d.

The Egyptian General Petroleum Corporation (EGPC) along with its international partners, however, aim to increase crude oil and condensates production to an average of 695,000bopd and 4.7bcf/d of natural gas during the fiscal year 2016/2017, Egypt Oil & Gas reports.

The country, which was once an energy exporter turned into a net importer in recent years, due to declining production and increasing consumption. Egypt is currently making efforts to reverse that trend, by fast-tracking the development of major gas finds with the aim of achieving energy self-sufficiency by 2020.

Anita Fatunji