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Egypt Intends to Return Its Oil & Gas Production to Normal Levels in 2025

OIL

Egypt intends to return its oil and gas production to normal levels from 2025 with the help of international partners according to its Prime Minister Mostafa Madbouly on Thursday.

  • "There is a very clear plan to bring the volume of production of oil and natural gas with foreign partners back to previous levels, and to also increase it in the coming period," Madbouly said.
  • Its recent aims were cut short by a scarcity of foreign currency that led to an accumulation of arrears which it said in March it had begun paying off.
  • The country has turned from a net gas exporter to an importer due to weak domestic production and power cuts due to heat waves.
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