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Rosneft to explore building out industrial gas supply chain in Egypt

Russian oil and gas company Rosneft Oil Co. PJSC has inked an agreement with Fleet Energy Inc. and Fleetliner Energy SA to explore the possibility of establishing a joint venture to deliver industrial gas supplies in Egypt.

Fleet Energy has offices in Moscow and Cairo and is part of Fleet Holding Inc.

Rosneft holds a 30% interest in the Zohr project, the largest deepwater gas field offshore Egypt.

The third phase of the project, which is in the Shorouk Block, began operation shortly after the commissioning of the second phase, which doubled capacity to 800 MMcf/d, and five months after the start of production in December 2017.

Production at Zohr is expected to reach 2.0 Bcf/d by the end of this year, and should hit 2.7 Bcf/d by the end of 2019.