Audio By Carbonatix
Egypt has a plan for the drilling of 480 exploratory oil wells on the basis of investments totalling $5.7 billion over the next five years, the country's petroleum minister said on Tuesday, as the country seeks to reverse declining production.
The country has announced agreements with international energy companies on oil and gas exploration over recent months, including an agreement with oil giants Eni and BP to start exploration activities in the Mediterranean Sea.
The ministry statement on Tuesday did not give details on the source of the investment, but said 101 wells were scheduled for 2026, distributed across Egypt's main regions.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Police Christmas special operation: 101 suspects arrested in Greater Accra
10 minutes -
15 arrested after sporadic shootings at Ho central mosque
23 minutes -
GES condemns alleged theft of food supplies at Awaso STEM SHS
54 minutes -
DopeNation electrifies crowd at Joy FM’s Party in the Park
1 hour -
Philip Ayesu emerges as the 2025 Achimota Champion after beating Percival Kwadjo Ampoma
1 hour -
Support your own – Mr P tells Ghanaian artistes
1 hour -
Ghana EXIM Bank develops 5-year export-led growth strategy to drive trade expansion
2 hours -
Big Smiles, Bigger Bounces: Kids take over the fun at the Joy Party in the Park
2 hours -
Joy FM Party in the Park 2025: Kwabena Kwabena takes centre stage
3 hours -
Ghana-Nigeria cyber-fraud network dupes over 200 victims of $400,000
3 hours -
Tackling terrorism requires jobs and anti-corruption drive, not strikes alone – Nigerian security analyst
3 hours -
Terror attacks in Nigeria affect all faiths, not only Christians – Security analyst
3 hours -
$120,000 stolen from Ghanaian financial institution by hackers – INTERPOL
3 hours -
Modern security management defined by trust – IGP  Â
3 hours -
The True Significance of Christmas: Pagan origins or Christian celebration
3 hours