Egypt: PM: Further Gas Exploration Opportunities Available in Egypt
Source: www.export-egypt.com 2/6/2018
Prime Minister Sherif Ismail said that Egypt has many other promising opportunities with regard to the oil and natural gas exploration alongside Zohr gas field.
In a press conference following his meeting with a number of ministers, Ismail noted that he discussed with Central Bank of Egypt (CBE) Governor Tarek Amer the second phase of the economic reforms, adding that establishing a major company specialized in public transportation has been tackled..
Increasing the funding for the project to reach EGP 200 million and paying the dues of the foreign partners were also discussed, he noted..
Total foreign reserves hit a record and reached 38.2 billion dollars for the first time, reflecting the confidence in the Egyptian economy and its banking system, the prime minister added..
Commenting on his meeting with Petroleum Minister Tareq el Molla, Ismail said that they discussed the projects being implemented and means to boost crude oil, gas and butane gas production within the framework of the second phase of Zohr gas field..
He pointed out that the government is establishing a high standard petroleum refinery project in upper Egypt to secure diesel, gas and butane gas needs and increase production capacity of Midor Middle East Oil Refinery to hit eighth million tons annually.
The meeting also took up means to secure the needed funds for delivering gas to about 350,000 residential units nationwide under the directives of President Abdel Fattah El Sisi, the prime minister added. .
Ismail stated that his meeting with Education Minister Tareq Shawky dealt with developing the educational process and reviewing Shawky’s vision for upgrading the high school certificate (Thanaweya Amma). They also tackled the project of the Japanese schools that will be ready to receive applications in mid-February..
As well, Ismail and Minister of Transport Hesham Arafat discussed efforts aimed at upgrading the railways, including new wagons and locomotives, as well as developing the signals system..
Ismail stressed that the plan comes in light of the government's keenness to enhance the safety of transport services provided to citizens, adding that he followed up the executive stages of implementing the new development projects of the underground Metro.