CAIRO: Work is underway at three new wells in the Zohr gas field in the Mediterranean in the current financial year, Egypt's petroleum ministry said on Tuesday.
Another well, the Zohr-6 well, has added about 65 million cubic feet per day of gas to Egypt’s output, the ministry added.
Italian energy group Eni, Zohr's operator, resumed drilling at the Zohr field in February after production was curbed because of arrears owed to foreign oil companies.
Output in the largest gas field found in the Mediterranean dropped to 1.9 billion cubic feet per day in early 2024, well below the peak reached in 2019.
Zohr was discovered in 2015 by Eni and began producing gas in late 2017. It holds an estimated 30 trillion cubic feet of gas.
The field is operated by Petrobel, a joint venture of Eni and state-owned Egyptian General Petroleum Corp.
Egypt petroleum ministry says work underway in three new wells in Zohr gas field
https://arab.news/2nrcp
Egypt petroleum ministry says work underway in three new wells in Zohr gas field
Closing Bell: Saudi main index closes in red at 10,414
RIYADH: Saudi Arabia’s Tadawul All Share Index closed lower on Wednesday, shedding 38.85 points, or 0.37 percent, to finish at 10,414.06.
Total trading turnover on the benchmark index reached SR3.46 billion ($920 million), with 123 stocks advancing and 134 declining.
The Kingdom’s parallel market Nomu also shed 41.61 points, or 0.18 percent, to close at 23,428.67.
The MSCI Tadawul Index edged down 0.45 percent to 1,368.36.
Arabian Drilling Co. was the best-performing stock on the main market, with its share price rising 6.8 percent to SR102.90.
Naqi Water Co. gained 4.30 percent to SR58.25, while Saudi Ground Services Co. advanced 3.78 percent to SR38.42.
Tihama Advertising, Public Relations and Marketing Co. saw its share price fall 4.95 percent to SR16.31.
AlAhli REIT Fund 1 also declined 3.53 percent to SR6.29.
On the announcements front, United Mining Industries Co., listed on the parallel market, said it has begun commercial production of gypsum board at its plant in Yanbu.
In a Tadawul statement, the company said the financial impact of the project’s commercial production will be reflected in the first quarter of 2026.
United Mining Industries Co.’s share price was unchanged, closing at SR42.54.
Dkhoun National Trading Co. said its shareholders approved the board’s recommendation to distribute interim dividends on a semi-annual or quarterly basis for 2025.
According to a Tadawul statement, shareholders also approved transferring the balance of the company’s statutory reserve, valued at SR2.43 million, to retained earnings.
Dkhoun National Trading Co.’s shares saw no trades and closed at SR65.
