Mohamed Talaat

29 mohamed Ebaid st, Al sabaa Emaraat Sq, Heliopolice

Cairo

Egypt

How did Egypt manage to save $900million in 10 months?

Egypt’s ability to save $900 million in under a year showcases the effectiveness of Egypt's reforms.

The state awarded the contract to build and fund a pumped-hydro storage plant to Sinohydro in 2018.

GUPCO will complete the development of the discovery by drilling two additional wells, which will contribute to adding over 5,000 barrels.

The petroleum ministry anticipates that production volumes may exceed this estimate.

The Italian firm classifies the field as a supergiant, containing 480 million barrels of oil equivalent (mmboe).

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