Egypt's $6 Billion Bet on Crude Oil
Egypt is planning to drill 480 new exploratory oil wells over the next five years, a $5.7 billion investment to boost its oil production.
The plan, announced by the Petroleum Ministry, includes 101 wells slated for 2026, spread across Egypt's main producing regions.
Egypt is rolling the dice on black gold once again
This move aims to reverse years of production decline, with Egypt making a significant bet on crude oil.
Author's summary: Egypt invests $6 billion in oil exploration.