Urgent.. President Sisi directs the necessity of regular payment of financial dues to companies contracting with the state in the oil and gas sector
President Abdel Fattah El-Sisi directed the necessity of regular payment of financial dues to companies contracting with the state in the oil and gas sector.
This came during President El-Sisi’s meeting today, Saturday, with Dr. Mostafa Madbouly. The Prime Minister, Hassan Abdullah, Governor of the Central Bank, Ahmed Kajouk, Minister of Finance, and Engineer Karim Badawi, Minister of Petroleum and Mineral Resources.
The President confirmed Al-Sisi emphasized the importance of continuing and intensifying government efforts to meet the needs of citizens in various sectors, and enhancing efforts aimed at boosting economic growth rates and national income, which contributes to building a strong and attractive economy for investments.
The spokesman stated that The official statement on behalf of the Presidency of the Republic said that the meeting discussed the government’s efforts to ensure that the state’s needs for petroleum products are met, including those needed for development projects, in addition to providing the necessary funds to sustain efficient work in this sector. The government’s efforts to increase local production of petroleum wealth were also reviewed. And gas, as President Sisi stressed the importance of continuing to develop the new discovered wells and including them in the production map, as well as intensifying research and exploration activities in the land and marine areas of Egypt.
Ambassador Mohamed El-Shenawy explained the spokesman Officially, the meeting also discussed developments in cooperation between the government, international companies and local investors in the fields of oil and gas, and reviewed a group of topics related to the results of efforts to attract the private sector to expand its investments within this sector. The steps taken to expand The scope of regional cooperation in the fields of oil and gas during the coming period, and opening new horizons for cooperation and investment in this regard.
