The Egyptian cabinet agreed upon two new petroleum commitment agreement projects for the Egyptian Natural Gas holding company (EGAS), and several numbers of the national and international companies.
The Borg El-Arab Petroleum Company has made a new petroleum discovery in the ASH-2 area of Abu Senan concession in the Western Desert, with a production rate of 7,000 barrel of crude oil per day and 10 million cubic feet per day (mcf/d) of natural gas.
The Minister of Investment and International Cooperation, Sahar Nasr, met the delegation of the Emirati Mubadala Investment company in Egypt, headed by the Chief executive officer of development of Mubadala Petroleum, Mansoor Al Hamed
Egypt will improve electric grids nationwide with over EGP 75 billion in investments
During the World Youth Forum, the Minister of Petroleum and Mineral Resources, Tarek El Molla, gave quick updates on the East Mediterranean Gas Forum (EMGF), which convened last July.
Standard Chartered Bank expects Egypt to be one among the Top Ten Global Economies for 10 years, ranked number seven before Russia, Japan and Germany.
The Minister of Electricity and Renewable Energy, Mohamed Shaker, said that the recently inaugurated Benban Solar Park attracted 32 foreign investors, with investments worth $2.2 billion.
Zohr field's natural gas production capacity reached to 3 billion cubic feet per day (bcf/d), the Minister of Petroleum and Mineral Resources, Tarek El Molla, announced.
The CEO of the Egyptian General Petroleum Corporation (EGPC), Abed Ezz El Regal, said that the rate of butane production has increased by 27,000 ton, reaching a total production of 140,000 tons per month.
The Minster of the Petroleum and Mineral Resources, Tarek El Molla, witnessed the signature of a grant deal between the Acting Deputy Director of the United States Trade and Development Agency (USTDA), Todd Abrajano, and the Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), Saad Helal, to fund the feasibility study of a Polyacetal production project with $690,000.
