Egypt affirms timely payments of oil foreign partners’ dues

The Egyptian programme for paying dues to foreign partners in petroleum sector is on track, with regular payments set to continue from October, Minister of Petroleum and Mineral Resources Karim Badawy affirmed on Monday 30/9/2024. Badawy further highlighted the positive response from both domestic and international partners to the incentive package. The announcement came during a meeting with Prime Minister Moustafa Madbouly to discuss key priorities in the petroleum sector. The meeting focused on the regular payment of dues to foreign partners and the positive reception of the ministry's incentive package for exploration and research. Additionally, the minister announced that Eni has increased the number of rigs in Agiba field to expedite production rates, aiming to reach the targeted levels swiftly. This meeting underscored the government's commitment to maintaining strong relationships with foreign partners and boosting the country's petroleum production capabilities. Source: State Information Servic e Egypt