Skip to content Skip to Search
Skip navigation

Egypt to invest $9bn in oil and gas projects

egypt oil gas Reuters/Vasily Fedosenko
The new oil and gas projects aim to help Egypt maximise value from its natural resources

Egypt plans to invest $9 billion in building new oil refining and gas projects, the Ministry of Petroleum and Mineral Resources has said.

Projects will be started in Alexandria, Assiut and Suez, with an estimated investment of $7.5 billion.

These will allow Cairo to maximise value from its extensive natural resources, Egypt Today newspaper reported citing a ministry statement.

An additional investment of $1.4 billion has been allocated for Behaira, Damietta and New Alamein governorates.

Since the launch of its development strategy in 2016, the ministry has overseen the completion of eight new oil refining projects, worth more than $5 billion. 

Egypt’s natural gas production capacity has more than doubled to over 4.30 million tonnes in financial year 2021/2022.

In February Egypt’s minister of petroleum Tarek El Molla said that the country would launch the first-ever bid for obsolete energy fields.

The minister added that the country is negotiating to increase gas imports to re-export, pointing to cooperation with Cyprus to benefit from the Aphrodite field after being developed.

Egypt’s non-oil private sector activity contracted for the 30th consecutive month in May, but at a slower pace than the previous 15 months, according to S&P Global’s latest survey. 

Latest articles

EV charger network UAE

UAE to roll out countrywide EV fast charger network

The UAE is speeding up the expansion of its electric vehicle charger infrastructure in support of the energy transition, the shift from fossil-based systems of energy production. UAEV, a joint venture between the Ministry of Energy and Infrastructure and Etihad Water and Electricity that was announced on Monday, intends to build a network of high-performance […]

Saudi Aramco CEO Amin Nasser (centre back) at the signing ceremony for the quantum computer deal with Pasqal

Aramco to use Saudi Arabia’s first quantum computer

Saudi Arabia plans to deploy its first quantum computer, after an agreement between the state oil company, Saudi Aramco, and the French computing company Pasqal.  Pasqal will install, maintain and operate a 200-qubit quantum computer, due for deployment in the latter half of 2025, Aramco said in a statement. Quantum computers use the principles of […]

A jet on the assembly line at the Airbus factory in Blagnac, France. Saudia says it is updating the interiors of its current fleet

Saudia announces ‘largest deal in Saudi aviation history’

Saudia, one of Saudi Arabia’s national carriers, has ordered 105 aircraft from Airbus, with the first batch due for delivery in early 2026. Saudia director general Ibrahim Al-Omar told an aviation industry forum in Riyadh that it is “the largest deal in Saudi aviation history”. A similarly large order has been made by new carrier […]

Pilgrims Saudi Malaysia

Pilgrim air terminal planned for Kuala Lumpur airport

Saudi Arabia and Malaysia are planning to build a pilgrimage air terminal in Kuala Lumpur to increase tourism numbers in both countries. Malaysia’s transport minister Anthony Loke told an aviation industry forum in Riyadh that it was looking with the Saudi Arabian government into “building and establishing a Hajj and Umrah hub” in Kuala Lumpur […]