Ministry of Petroleum to Implement 11 New Projects

Thursday, 20th June 2019
by Mai El Ghandour

MEDITERRANEAN SEA, ISRAEL – MARCH 28: In this handout image provided by Albatross, The Tamar drilling natural gas production platform is seen some 25 kilometers West of the Ashkelon shore on March 28, 2013 in Israel. The offshore Tamar drilling site which was originally dispatched from a shipyard in Texas at the end of last year is due to start producing natural gas next week. Over the past few years Israel has suffered from a shortage in natural gas, but with the new platform that weighs 34,000 tons and will be mainly operated by Israelis, the US company Nobel Energy which owns a 36% stake in Tamar, hopes to change Israel’s energy situation as well as the economy as a whole. (Photo Photo by Albatross via Getty Images)

The Ministry of Petroleum and Mineral Resources aims to implement 11 new projects for the development of new natural gas fields, Egypt Oil & Gas reported.

The total investments of these projects will reach $15 billion by H2 of 2022.

Investments in the oil and gas sector are a strong indicator of its success to attract more investments and encourage international oil companies (IOCs) to take on more project in the petroleum sector in Egypt.