Egypt’s EGPC reviews plans to boost oil, gas output, attract investment
Egypt’s General Petroleum Corporation (EGPC), chaired by Petroleum Minister Karim Badawy, reviewed plans to accelerate investment and boost oil and gas production across key regions, the petroleum ministry said on Wednesday.
The meeting, held via video conference, was attended by the ministers of local development, investment and industry, as well as a deputy finance minister, and focused on securing domestic petroleum supplies, meeting financial obligations and strengthening investor confidence.
Badawy highlighted efforts to attract investment, increase production from existing fields and expand exploration activities, alongside the use of modern contractual models and advanced technologies under the sector’s five-year plan.
EGPC officials outlined measures to fast-track investments in the Gulf of Suez, Mediterranean Sea and Western Desert, and to support state-owned companies including the General Petroleum Company and Badr Petroleum Company to raise output and ensure market supply.
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser