The Ministry of Planning and Economic Development (MPED) has published a report of the H1 2019/20 outcomes of the Ministries of Electricity and Petroleum and Mineral Resources, indicating that the energy sector has completed 156 projects in the oil, electricity, and renewable energy sectors with a total investment of about EGP 28.7 billion, according to Al-Ahram.
The petroleum sector has implemented nine projects with investments of EGP 11.7 billion. The report referred to the the development of phase 2 of North Sinai fields, and the Baltim’s South fields, with estimated production capacity of 75 million cubic feet (mmcf) of natural gas.
The report showed that the natural gas sector achieved a growth rate of 4.5% during H1 2019/20, while the petrochemical sector achieved a 14.2% growth. Additionally, the number of projects increased by 29%, compared to the same period in Fiscal Year (FY) 2018/19.
Meanwhile, the electricity and renewable energy sector completed 147 projects with a total investment of roughly EGP 17 billion.