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Petroleum Official Highlights Debt Resolution Importance
Engineer Mahmoud Naji, spokesperson for the Ministry of Petroleum, confirmed that resolving the foreign partners' debt of $6.1 billion represents a strategic achievement that strengthens the Egyptian economy. This success marks a turning point in the energy sector, contributing to improved exploration efforts and increased local production, alongside boosting confidence with foreign partners and attracting new capital. This comes as part of a five-year plan to increase gas and oil production, as Egypt continues its efforts to reaffirm its position as a regional energy hub, thanks to its strong infrastructure and political and security stability.
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