President Sisi Directs Government to Accelerate Efforts in Gas, Oil Exploration

On Thursday, Egyptian President Abdel Fattah El Sisi held a meeting with Prime Minister Mostafa Madbouli and Petroleum Minister Tareq El Molla to follow up on the state's efforts in searching and exploring for natural gas and oil, said Presidential Spokesman Bassam Radi.

During the meeting, the petroleum minister reviewed his ministry's plans for research and exploration until 2025 for concession areas in the east and west of the Mediterranean.

Those exploration activities will be carried out in cooperation with global energy companies, with total investments of USD 2.1 billion, Molla said.

The president issued directives for increasing the search and exploration activities to achieve the optimal utilization of the country's resources and bolster the reserves of natural gas, with a view to meeting the local market's needs and boosting exports.

The spokesman noted the oil minister posted the president on the progress made in the soda ash complex project in the industrial zone of New Alamein city, which is carried out by the State and the private sector at a total cost of USD 500 million.

In this regard, President Sisi gave instructions to accelerate the implementation of the soda ash complex project which is expected to yield high economic returns and provide new job opportunities.