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Egypt increases oil, gas output to meet demand
Aya Anwar Published in Amwal Al Ghad on 20 - 11 - 2024

Egypt's Ministry of Petroleum and Mineral Resources reported a significant increase in oil and gas production from July to October, with an additional 200 million cubic feet of gas and 39,000 barrels of crude oil per day.
This growth coincides with an uptick in activities from international companies involved in development, production, and exploration, driven by the ministry's ongoing investment incentives.
Minister Karim Badawy emphasised the ministry's efforts to create a more attractive environment for both global and national investments, aiming to meet local market needs and reduce imports.
Key measures include addressing foreign partners' outstanding dues, implementing regular payments, launching incentive packages to boost production, and introducing reforms to improve pricing systems. Additionally, the ministry has collaborated with global partners to reduce production costs and improve energy efficiency.
Badawy highlighted some recent achievements, including the upcoming addition of two new wells at Zohr gas field, set to add 220 million cubic feet of gas per day. In January, gas production from the second phase of the Rweishid field will accelerate in partnership with BP.
Shell has also added two new wells to the Mediterranean gas production map and plans to add a third next month. Moreover, drilling rigs have been deployed at Agiba Petroleum's oil fields in the Western Desert to speed up operations. In addition, Apache is applying incentive measures to gradually increase gas production in the Western Desert fields.
Looking ahead to 2025, Badawy outlined plans to continue accelerating production and exploration, maximise refining capacity at the expanded Midor Refinery, and further develop the mining sector. The ministry also aims to expand the use of natural gas for homes and vehicles to lower fuel costs, while offering new investment opportunities through an electronic gateway for mineral wealth. These efforts reflect Egypt's strategy to enhance its energy sector and attract further investment.
Attribution: Egyptian Cabinet
Subediting: M. S. Salama

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