The decline in natural gas production was partly attributed to operational challenges at Egypt's largest gas field, Zohr in Port Said, where output has reportedly dropped by one-third since 2019
Badawi also emphasized that these efforts are pivotal to Egypt's sustainable development strategy, reflecting a proactive stance on climate action and energy transition
The agreements are part of the government's strategy to attract foreign investment in the oil and gas sector, and to develop the country's natural resources.
The company, expected to be completed within the year, will start with a capital of $663 million, according to a Sidpec disclosure on the EGX yesterday
Egypt’s oil and natural gas consumption is approximately $55 billion annually to meet the needs of the country’s citizens, explained Madbouly on Monday in a post-tour press conference
