The government is now targeting full settlement and zero arrears by the end of June, effectively closing the file. The minister noted that recently introduced incentives have helped revive investment in exploration and production following a slowdown linked to accumulated arrears. El-Gabry said Egypt’s transformation into a regional energy hub is becoming a reality, highlighting efforts to maximise utilisation of the Idku LNG plant and increase export shipments in recent periods. He highlighted the importance of an agreement signed with the Ministry of Petroleum 18 months ago, which has enhanced the attractiveness of gas investment in the Western Desert. Channa Kurukula Surya said Chevron Egypt has been operating in Egypt since 2020 in gas exploration, currently investing in three areas and negotiating entry into three additional ones.

Source: Daily News Egypt April 08, 2026 18:12 UTC