Higher global oil prices have encouraged investments in these fields
Egypt is seeking investment in all aspects of energy production, whether it be in traditional fossil fuels or renewables, the Minister of Petroleum and Mineral Resources Tarek El Molla has said.
In the aftermath of the 2022 United Nations Climate Change Conference, or COP27, which closed over the weekend following two weeks of intense negotiations, many argue that very little progress was made on the phasing out of fossil fuels.
Egypt needs to improve regional stability and energy ties to fully benefit from its hydrocarbon exports