Cairo - Mubasher: The Egyptian minster of petroleum and mineral resources has stressed the need to carry out the development plan for the oil sector by the end of 2018 instead of 2021.
During a meeting in the Egyptian General Petroleum Corporation (EGPC), Tarek El Molla explained that the project’s vision is to make the best use of the country’s natural resources, and to transform Egypt into a global centre for energy and trade.
According to the minister, Egypt will achieve self-sufficiency of natural gas by the end of next year, he noted that the government’s original plan was to be self-sufficient by fiscal year 2020/2021, but the speeding the development plan, especially in regards to new discoveries, could help in reaching that goal sooner.
There are 12 oil field development projects in Egypt, with investments estimated at $33 billion, as per a previous statement by the petroleum ministry.
