Minister of Petroleum and Mineral Wealth Tareq Al Mulla -REUTERS
CAIRO, Jan 26 (MENA) - Egypt’s production of natural gas will reach about 8 billion cubic feet per day in the 2019/2020 fiscal year, Minister of Petroleum and Mineral Resources Tareq el Mulla said on Saturday.
This output will be achieved after implementing all development projects of Egypt’s gas fields, Mulla told a meeting of the general assembly of the Egyptian Natural Gas Holding Company (EGAS) to review the company’s planned budget for the coming fiscal year.
The minister noted that these unprecedented amounts come as a direct result of the petroleum ministry’s successful strategy that is backed by Egypt’s current political and economic stability, the Ministry of Petroleum said in a statement.
Mulla also asserted the continuity of the petroleum sector’s efforts to implement a strategy to attract more foreign investments in the field.