Studies have shown that Egypt has the 16th biggest gas reserves and the country is the 15th largest producer of gas in the world.

According to the study prepared by Edison International’s Vice President, Nicola Monti (photo), Egypt is the second largest producer of gas in Africa and the first non-member of the Organization of Petroleum Exporting Country (OPEC) in Africa to produce gas.

He stated that the country will continue to be a major player in the oil and gas sector as there are new geological layers with unexploited reserves in the Gulf of Suez, the Western Desert, the Nile Delta, and the east of the Mediterranean.

The study revealed that 12 billion BO was discovered in Egypt’s gas reserves in the eastern region of the Mediterranean Seas in 2015, approximately 11bn was extracted from the Gulf of Suez, 9bn bbls in the Nile Delta oil fields, as well as 10bn bbls in the concession areas in the western desert, Daily News Egypt reports.

Monti emphasized that there are also numerous areas that have not yet been exploited which includes the western region of the Mediterranean, where fields that could produce the equivalent of 1tr bpd is expected, The Nile Delta’s reserves are estimated to be able to produce 232 tcf of gas, the Western desert region has about 100 tcf of gas that has not been extracted, the Gulf of Suez has nearly 112 tcf while the Upper Egypt is expected to be able to yield about 1tr bpd.

“Egypt has the potential to become a regional center in the Mediterranean due to its strategic location, infrastructure and qualified ports for the export and import of oil and gas”, Monti said adding that the company is at present performing a three-dimensional seismic research on an area of over 5,000 km².

Edison plans to work together with private companies to assign further gas reserves to power plants to be developed in the Abu Qir field.

Rising gas demands is as a result of population growth, low prices, as well as low energy efficiency. Due to this, the demand on gas will surpass domestic production by 2018, Monti clarified.

Anita Fatunji