The meeting was held at the end of the first phase of the program, which had been launched as a part of the ministry's Modernization Project to invest in developing the oil and gas sector's human resources and support young talents.
According to the agreement, the company will search for and develop oil at the Ras Budran and El Zeit Bay oil fields in the Gulf of Suez (GOS).
The Egyptian Ministry of Electricity is in talks with Sweden to exchange knowledge and expertise on smart grids.
The development work in Zohr field and some of the exploration fields in the Mediterranean contributed to a production leap early in 2019, increasing production by 700,000 tons in January 2019.
Fuel subsidies cost thus decreased by 28.45% compared to the EGP 84 billion paid in the first nine months of FY 2017/18.
Benban solar park, which is set to be the biggest in the world, attracted over $2 billion investments.
EGAS expects the country's natural gas consumption to grow by 12.3%, reaching 7.3 bcf/d in FY 2019/20.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
The company will gain between EGP 50-55 billion from the Egyptian Refining Company (ERC), which is set to start operating in Q3 2019.
Butane will be increased the most as the county is adding 100,000 butane cylinders per day to the amounts pumped into the market, boosting the total to 1.25 million cylinders per day.
