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Ahmed Musa: $17B signals global investor trust in Egypt
The Egyptian Minister of Petroleum confirmed that outstanding dues since 2021 amounted to $6.1 billion, and that the state is working to settle them regularly. It is expected that these dues will reach zero following President Sisi’s commitments to resolve this issue by the end of June. In this context, the government announced plans to invest $17 billion over the next five years, including drilling 101 oil and gas wells in 2026. This reflects international companies’ confidence in the Egyptian energy market and affirms Egypt’s position as a regional energy hub in the Eastern Mediterranean region.
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