Egypt to boost energy investment, exploration

Egyptian Prime Minister Moustafa Madbouly emphasised the critical role of the Egypt Exploration and Production Portal (Egypt Upstream Gateway) in accelerating oil and gas exploration. This digital platform, designed to attract global investment, should be fully utilised, he added during a Cabinet meeting on Wednesday.

To further incentivise investment, the prime minister called for increasing digital bidding opportunities for exploration areas and creating a more competitive financial environment. This strategy aims to encourage both existing and new companies to invest in Egypt’s petroleum sector.

In addition to oil and gas, Prime MinisterMadbouly highlighted the importance of expanding electricity generation from renewable sources. He stressed the government’s commitment to closely monitoring progress in this area.

Attribution: The Egyptian Cabinet

Subediting: Y.Yasser