Egypt has made two natural gas discoveries in the Nile Delta and the Mediterranean Sea, boosting its reserves by 194 billion cubic feet of gas and 2 million barrels of condensates, the Ministry of Petroleum has announced.
Egypt holds Africa’s third-largest gas reserves, with 78 trillion cubic feet (2.19 trillion cubic metres).
The two new finds represent a 0.2 per cent increase to Egypt’s gas reserves.
Egypt produces about 6 billion cubic feet of gas and 10.4 million barrels of condensates daily.
Domestic gas consumption in 2Q2011 was 429 billion cubic feet, according to the Ministry of Petroleum.