How far would the economic crisis affect Egypt’s petroleum sector?
Generally speaking, Egypt, like any other country, would be definitely affected by this crisis, but we cannot assess its drawbacks for the time being. However, when we take a deeper look into the Egyptian Petroleum Sector, we would find out that it is secured to some extent and able to overcome the challenges of this collapse. As a matter of fact, over the past eight years, the Ministry of Petroleum has been engaged in diverse contracts and agreements, which guarantee the continuity of E&P operations in the country, as partners have to abide by the agreements’ deadlines and terms, regardless this current crisis. Many rumors stated that various companies have cancelled and/or dismissed rigs. Comment This is completely untrue, El-Gohary affirmatively replied. The companies currently operating in Egypt have not decreased or suspended their field operations. We did not receive any rig cancellation. On the contrary, companies are still operating at the same level and nothing has changed up
