oils and gas
Before deployment, the ship—originally an LNG carrier with a daily capacity of one billion cubic feet—will be converted into a regasification unit.
This effort is part of the country’s broader strategy to accelerate exploration activities, boost oil and gas production, and solidify Egypt’s role as a key player in the global energy market.
The project is expected to unlock approximately 80 billion cubic feet of gas, significantly enhancing the company’s production in Egypt.
This production increase aligns with the government’s commitment to settle arrears owed to foreign oil companies before the fiscal year ends, encouraging these companies to ramp up drilling activities and accelerate the development of gas fields.
