Egypt has signed a total of 29 oil and gas exploration agreements in 2023 with investments of $1.2 billion at least, as per a statement by Egyptian Ministry of Petroleum and Mineral Resources.

The government has also drilled 87 new wells, with 65 new oil and gas discoveries.

Egypt’s total production of petroleum products hit around 74 million tons.

Moreover, the country’s petroleum sector has injected total investments of $7.3 billion in oil refining projects.

This is in addition to reducing around 900,000 tons of carbon dioxide by connecting natural gas to roughly 14.5 million residential units and over 2 million tons via converting 534,000 cars to run on compressed natural gas (CNG).

Moreover, it managed to reduce over 1.4 million tons of carbon emissions.

 

 

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