Former Egyptian Oil Minister Osama Kamal reacted to European attempts to set gas prices in order to put pressure on Russia.
He stressed that the Egyptian government has concluded framework agreements with Cyprus on gas exports, noting that the demarcation of the borders has legal provisions related to the rights of the sea. about Europe setting a ceiling on gas prices; He stressed that the purpose of this decision is to put pressure on Russia. This is a step that will not lead to the achievement of your goals and is not welcome.
Osama Kamal stated in a telephone conversation with journalist Ahmed Moussa on the program “Under My Responsibility” on the channel “Sada al-Balad” that the cost of drilling one well to detect gas is 100 million dollars, indicating that the Zor gas field is a giant and a lifeline discovered at an important time.
He added that the Narges gas field, located in El Arish, has not yet been definitively assessed, and the reserves of this field are 3 trillion cubic feet, adding that the oil sector is working in an organized manner in search of discoveries.
He explained that the companies with which gas exploration contracts have been concluded come to Egypt with all the drilling equipment for gas work. And if openings are not achieved and these companies decide to leave Egypt; They will leave the equipment and they are not entitled to it.
Source: Today’s News