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Egypt، EU to sign an agreement on gas، oil fields next Tuesday

Tuesday 17/April/2018 - 11:22 AM
Sada El Balad
Sada ElBalad-Nada Moustafa
Egypt’s Oil Minister، Tarek al-Mulla announced on Tuesday that Egypt will sign an agreement with European Union (EU) next week، on Gas، oil، and electricity fields.

In a press conference، al-Mulla added that this agreement comes within the framework of Egypt’s efforts to become a major regional hub for energy.

Earlier، al-Mulla said that he expects the EU to become the main beneficiary of energy transported from Egypt، Egypt’s Oil and gas website reported.

Moreover، al-Mulla stressed that Egypt is exerting efforts to achieve self-sufficiency with natural gas by the end of this year، to stop importing liquefied gas.

Mulla noted that Egypt has many opportunities that will support growth in gas production in the near and medium future.

Mulla added that over the past four years، the petroleum sector has succeeded in implementing 24 projects with a total investments worth US$16.2 billion، with a daily production of about 4.1 billion cubic feet of gas and about 36 thousand barrels of condensates.

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