CAIRO – Petroleum and Mineral Resources Minister Tarek el Molla said that foreign companies will pump 1.5 billion dollars in the gas fields development and production domains during 2023/2024.
This means that global companies have confidence in the investment-magnet atmosphere in Egypt in a way that supports expansion in the exploration, development and production domains, the minister added.
Molla made the remarks during general assembly meetings of the Egyptian Natural Gas Holding Company (EGAS) to approve its 2023/2024 budget.
He underlined the importance of expanding natural gas services across the nation.
The 2023/2024 budget of EGAS targets digging 16 exploratory wells, signing 10 new agreements, carrying out eight development projects in addition to completing natural gas infrastructure expansions in the Egyptian market.
