The development of Zohr gas field is about 83% complete with an estimated $4 billion, according to the Ministry of Petroleum and Mineral Resources.
Seven wells have been drilled so far, and progress is being made to begin production on the scheduled date, the ministry stated.
In a statement issued Monday, Petroleum Minister Tarek el Molla said that the natural gas production process is progressing as planned and according to the specified time frame. 
El Molla stated that Italian Energy Company Eni
is a strategic partner for Cairo in the gas sector, pointing out that this project will become a game changer in the energy industry in Egypt and across the region. 
Zohr will allow Egypt to satisfy a large proportion of the country's domestic gas demand for the coming decades.
On his part, Petrobel Petroleum company CEO Atef Hassan said that investments worth about $693 million have been pumped into the oil and gas sector, adding that 33 wells have been drilled in Sinai, the Nile Delta and the Mediterranean sea.
The new exploration drilling in Nidoko, Balteem and Sinai increased Egypt's reserves to 868 billion cubic feet of gas, 5 million barrels of condensates and about 1.6 million barrels of crude oil, Hassan said.
He pointed out that the company produces more than 77,500 barrels of crude oil per day in the Gulf of Suez.

Source: Mena