Egypt - The Egyptian General Petroleum Corporation (EGPC) signed four memoranda of understanding (MoUs) aimed at increasing exploration, production, and development activities in the oil and natural gas sector with a consortium between Hassan Allam Holding and Infinity Capital Investment, Ezz Steel, ElSewedy Industrial Group (EIG), and Advanced Petroleum Services Group, as per a statement.

Minister of Petroleum and Mineral Resources Karim Badawi highlighted that these agreements align with the directives of the government and political leadership to boost oil and gas production.

He stressed that the MoUs reflect the Ministry's efforts to attract investments through Egypt Upstream Gateway (EUG) and to promote investment opportunities in the development of mature fields, particularly in the Eastern and Western Deserts and the Gulf of Suez.

© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).