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Tuesday, 22 October 2019

Western Desert produces about 60% of Egypt's crude oil: Petroleum minister

MENA , Wednesday 9 Jan 2019
Views: 2397
Views: 2397

Egypt's Petroleum Minister Tareq El-Mulla has said that the country's Western Desert produces about 60 percent of Egypt's crude oil.

El-Mulla made the remarks in a statement on Wednesday while chairing a general assembly meeting of Agiba Petroleum Company to review its 2019/20 fiscal year budget plan.

The minister urged foreign companies to invest in the Western Desert as he expects more discoveries to be unearthed in this area, citing recent findings.

Agiba Petroleum Company chairman Essam Qaffas has said the company plans to produce about 46,000 barrels of crude oil and 19 million cubic feet of natural gas daily in the coming fiscal year.

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