Egypt to increase daily oil output to 70K in FY2020 – minister

Egypt plans to increase its daily oil output to 700,000 within the 2019/2020 financial year, said Petroleum Minister Tarek el-Molla on Saturday.

During a meeting with heads of some petroleum companies on Friday at Badr-3 oilfield in the Western Desert, Molla affirmed the importance of boosting the current oil production capacity and implementing the proposed programs and plans to be positively reflected on Egypt’s economy.

The minister directed the companies’ heads to follow up the implementation rates, carry out plans and projects and overcome all challenges, according to a statement released by the ministry.

He stressed the necessity of biding by he rules of the occupational safety and health and environmental protection.

Source: MENA