Egypt eyes new agreements to pump $5bn in oil and gas, says Minister

. Oil production rig in the sea, landscape. Red Sea, Egypt, AfricaImage: Shutterstock
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Updated 17 November 2021
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Egypt eyes new agreements to pump $5bn in oil and gas, says Minister

  • He said they were working on establishing accords related to crude oil

CAIRO: Egypt plans to increase its production of oil and gas by up to $5 billion through new agreements during the next five years, Minister of Petroleum Tarek El Molla said in an interview.

The country is reviewing foreign contracts of oil and gas exploration and production as it seeks new deals, he told Al Arabiya.

“Contract review with companies in the development and exploration of gas is what enabled us to export gas and to transform from a gas-importing country to a self-sufficient country in the past period,” El Molla said.

He said they were working on establishing accords related to crude oil, adding they had “reached agreements with partners such as Eni, Apache, TransGlobe and others.”

“The production of crude oil will be increased to cover market needs, as Egypt is an importer of petroleum products and is trying to reduce the gap as much as possible by renewing and developing these contracts," the minister said.


Operational challenges bring Riyadh Airport to a near standstill

Updated 49 min 30 sec ago
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Operational challenges bring Riyadh Airport to a near standstill

  • Airlines issue statements, while sources tell Arab News rain is to blame

RIYADH: Thousands of passengers travelling to and from King Khalid International Airport in Riyadh were left stranded as major airlines struggled to offer alternative flights following a slew of cancellations and delays.

Saudia and flyadeal were among the aviation firms who faced difficulties, with the two airlines putting out statements blaming temporary operational challenges for the issues.

A statement from the airport on its official X account urged travelers to contact airlines directly before heading to the aviation hub to verify the updated status and timing of their flights.

The statement said: “King Khalid International Airport would like to inform you that, due to the concurrence of a number of operational factors over the past two days —including several flights diverting from other airports to King Khalid International Airport, in addition to scheduled maintenance works within the fuel supply system — this has resulted in an impact on the schedules of some flights, including the delay or cancellation of a number of flights operated by certain airlines.”

The airport added that operational teams are working “around the clock in close coordination with our airline partners and relevant stakeholders to address developments and restore operational regularity as soon as possible”, while taking all necessary measures to minimize any impact on the passenger experience.

Airport sources told Arab News that the issue has to do with the heavy rain Riyadh experienced earlier on Friday. Water apparently got into the fuel tankers supposed to refuel jets before they fly, and then several airlines struggled to re-schedule passengers. 

It its own statement on X, Saudia said: “Affected guests are being contacted through various communication chanels, with all ticket changes processed at no additional cost.”

Arab News reached out to Saudia for further information.

Also in a post on X, flyadeal said any of it passengers impacted by the disruption “will be notified directly by emails and SMS with rebooking and support options.”