The Egyptian Government plans to scale up the use of horizontal drilling and hydraulic fracturing to increase oil and gas production.
Egypt intends to expand its oil and natural gas output by stepping up the deployment of horizontal drilling and hydraulic fracturing technologies, according to a presidential statement issued following a meeting chaired by President Abdel Fattah Al-Sisi.
The meeting brought together Prime Minister Mostafa Madbouly and Petroleum Minister Karim Badawi, along with several senior energy sector officials. Discussions focused on efforts to broaden the use of advanced extraction techniques capable of accessing hydrocarbon reserves that are difficult to tap through conventional methods.
According to the Petroleum Minister, Egypt’s energy sector is accelerating the rollout of these technologies with the aim of increasing crude oil and natural gas production in the coming years.
President Al-Sisi, for his part, stressed the importance of localising modern extraction technologies and deepening cooperation with major international oilfield services companies.
The meeting also reviewed an aerial mineral resource survey programme, designed to support the attraction of investment into the country’s mining sector.
Officials further discussed regional tensions that could influence global energy prices, as well as measures put in place to secure the oil supplies needed for power generation and industrial activity.
The Petroleum Minister indicated that the government is continuing its efforts to reduce outstanding payments owed to foreign energy partners, while maintaining regular monthly settlements.
President Al-Sisi underlined the importance of settling financial obligations to international oil companies promptly, arguing that doing so could encourage continued exploration and production activity.
He also called for strengthened exploration programmes to meet domestic demand and reduce dependence on energy imports.
MK/ak/sf/lb/gik/APA