Deputy Fouad Questions Oil Production Plan

It has been reported that Deputy Mohamed Fouad has submitted a parliamentary question to the Minister of Petroleum, demanding clarification on the realism of implementing the plan to increase oil and gas production by 2030. The question focuses on the availability of wells and actual implementation, raising doubts about whether the figures provided represent a genuine plan or are merely hypothetical models. It points out that the plan requires drilling around 2,378 wells over four years—an enormous volume that demands uncertain investment resources and drilling capacity. Additionally, the goal involves increasing production by more than 1.5 times the current level, a significant target that necessitates clear identification of locations, wells, and financing. The question also emphasizes that the distribution of investments, the level of funding, and actual drilling capacities must align with the announced objectives. There remains an open question about whether companies are capable of meeting these targets and whether they have the financial means to do so, especially given the decline in current investments and changes among foreign companies like BP. The deputy concludes by stressing that the purpose of the question is to determine how committed the government is to implementing a concrete plan whose results can be measured, rather than relying on mere theoretical calculations.

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