Egypt Boosts Energy with $225 Million Petroleum Projects

The Egyptian cabinet has approved five major petroleum projects in collaboration with international companies, amounting to $225.3 million. These initiatives involve drilling at least 40 wells to address the country's energy shortage by increasing natural gas production.


Devdiscourse News Desk | Cairo | Updated: 05-02-2025 19:29 IST | Created: 05-02-2025 19:29 IST
Egypt Boosts Energy with $225 Million Petroleum Projects
  • Country:
  • Egypt

In a strategic move to address its energy crisis, the Egyptian cabinet announced the approval of five substantial petroleum projects with international partners. The initiatives are valued at $225.3 million.

The projects will involve the drilling of a minimum of 40 wells, according to an official cabinet statement. This endeavor is part of a broader aim to boost natural gas production.

Amidst ongoing energy challenges, Egypt hopes these projects will alleviate power cuts experienced last year by enhancing domestic energy supplies.

(With inputs from agencies.)

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