Egypt announces new Mediterranean gas field discovery estimated at 200 billion cubic feet

AI Summary

Egypt announced a new natural gas discovery in the Mediterranean estimated at 200 billion cubic feet. The Ministry of Petroleum linked the results to increased exploration investment and improved conditions for resolving overdue payments to foreign energy companies.

The Ministry of Petroleum attributed the positive results to higher investment and exploration activity, noting a better investment climate and progress in settling overdue payments to foreign companies in the energy sector.