Egypt's $6 Billion Bet on Crude Oil
Egypt is rolling the dice on black gold once again, announcing plans to drill 480 new exploratory oil wells over the next five years.
This move is an ambitious $5.7 billion wager that the country can claw its way back from years of production decline.
- The Petroleum Ministry laid out the plan, revealing that 101 wells are already slated for 2026.
- These wells will be spread across Egypt’s main producing regions.
Author's summary: Egypt invests $6 billion in oil exploration.
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