Arab Finance: Prime Minister Mostafa Madbouly reviewed measures to secure Egypt’s energy needs and boost domestic oil and natural gas production, with a focus on accelerating the development of new discoveries and connecting wells to the national network.
The government prioritizes securing the country's energy needs, ensuring a sustainable supply of petroleum products and natural gas to various sectors, Madbouly affirmed.
Minister of Petroleum and Mineral Resources Karim Badawi pointed out that production commenced from the Fayoum-4 well, targeting production at a rate of 80 million cubic feet of natural gas per day (MMcf/d).
Badawi also highlighted the ministry’s efforts in the regional expansion of Egyptian petroleum sector companies. He addressed the signing of a new contract valued at $22.7 million with Petrojet to implement a natural gas pipeline project to Al-Muwaqar Industrial Development Zone, south of Amman, Jordan.
In an expanded meeting with media representatives, the minister affirmed that Egypt is accelerating efforts to increase local oil and gas production and attract new investments in the sector.
