Western Desert produces 60% of Egypt’s crude oil: minister

Egypt’s Petroleum Minister Tarek el-Molla said on Wednesday that the country’s Western Desert produces about 60 percent of Egypt’s crude oil.

Molla made the remarks in a statement on Wednesday while chairing a general assembly meeting of Agiba Petroleum Company to review its 2019/2020 financial year budget plan.

The minister urged foreign firms to invest in the Western Desert as he expects more discoveries to be unearthed in this area, citing recent findings.

Agiba Petroleum Company chairman Essam Qaffas has said the company plans to produce about 46,000 barrels of crude oil and 19 million cubic feet of natural gas daily in the coming financial year.

Source: MENA

Comments
Loading...