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Source:
الوطن
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How foreign entitlements in oil reached zero
After the June 30 Revolution, the Egyptian petroleum sector succeeded in restoring its stability and increasing its production through infrastructural development, new discoveries, and settling overdue payments to its foreign partners for the first time in years. Additionally, 27 new agreements were finalized for investments in oil and gas exploration, attracting over $17 billion in investments from international companies such as Eni and BP, reflecting growing confidence in the sector. A liquefied natural gas (LNG) import system was also established to meet the local market's petroleum product needs, contributing to energy security and supporting economic growth.
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