In a meeting held to discuss GPC’s new investment budget for FY2025/2026, Abdel Mageed highlighted the company’s achievements in the first half of the FY2025/2026, which included drilling 17 new production wells and repairing and recompleting 40 others.
These agreements aim to establish a strategic alliance and foster commercial cooperation, leveraging the expertise of each party.
Gas production from the two new wells is expected to start in February 2025.
Additionally, he revealed plans to launch the Mineral Resources Digital Portal and offer new mining areas for investment in 2025. These initiatives aim to attract significant investments to the energy and mining sectors, boosting their contribution to the national economy.
This directive was issued during a meeting with Prime Minister, Mostafa Madbouly, Central Bank of Egypt (CBE), Hassan Abdullah, Minister of Finance, Ahmed Kouchouk, and Minister of Petroleum and Mineral Resources, Karim Badawi.
