Minister of Petroleum
A total of 15 gas wells have been dug in the southern area of Zohr oil field and are already on the production map, Petroleum Minister Tarek el Molla said Monday.
Molla added Reuters that dues decreased by 5.5 percent, compared to $900 million at the end of 2018/2019 fiscal year.
Located in the conventional Egyptian waters of the Nile Delta, the discovery was announced early this month.
In a statement on Thursday, Molla said that the natural gas has been extended for first time to villages and cities in Upper Egypt and densely populated districts.
The meeting took up the project of electronic boards that display gasoline and diesel prices for consumers at gas stations.
The project comes to support efforts and developmental programs implemented in Upper Egypt, Molla said.
Molla said 1.07 housing units were connected to natural gas within 2019-2020 as part of a national project to deliver natural gas to households.
The move stemmed from the responsibility that the ministry assumes to help the Egyptian economy face the current challenges and contribute to keeping the wheels of economy turning.
The minister said the newly-automated depot comes as part of the ministry's efforts to develop storage, transport and distribution of petroleum materials.
They both agreed on continuous coordination between the officials of both ministries on reform plans for the public interest.
This came on the sidelines of the annual PDAC Convention, the world's premier international event for the minerals and mining industry, held in Toronto, Canada.
Molla will deliver a speech at the ministerial opening session of the conference which witnesses the participation of more than 25,000 figures representing around 135 world states.
During a meeting of the ECHEM general assembly to endorse the 2020-2021 budget, Molla said these projects would lure more foreign investments.
Investors will be given the opportunity to bid on 320 blocks over an area of about 56,000 square kilometres in the Eastern Desert and the Red Sea.
This came during a meeting of the general assembly of Belayim Petroleum Company (Petrobel) to approve the draft budget of 2020-2021 and the amended budget of 2019-2020.
The minister said increasing Egypt's oil output tops the ministry's priorities to bridge the gap between production and consumption.
The minister's remarks were made during chairing the general assembly meeting of Gulf of Suez Petroleum Company (GUPCO) to approve the financial budget for 2020-2021 and the amended budget of 2019-2020.
Molla praised the US side's support for Egyptian oil sector and cooperation to promote a successful partnership.
This came on the sidelines of Egypt Petroleum Show (EGYPS 2020) held in Cairo on February 11-13.
The meeting was held on the sidelines of EGYPS 2020 conference in Cairo.