Egypt needs $1.5B in investments for new natural gas discoveries

Updated 9/7/2023 8:17:00 AM
Egypt needs $1.5B in investments for new natural gas discoveries

Arab Finance: Egypt will need at least $1.5 billion in investments for the development of new natural gas well discoveries, Minister of Petroleum and Mineral Resources Tarek El-Molla told CNBC on September 6th.

The North African country aims to keep its oil and natural gas production at an “acceptable level,” El-Molla highlighted.

Egypt plans to drill 35 new natural gas wells until mid-2025.

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