Egypt has paid one billion dollars to foreign oil companies, as the government seeks to pay its arrears as part of efforts to increase natural gas production.
Natural gas production declined to 4.6 billion cubic feet per day. Egypt’s daily needs for natural gas reach 6.2 billion cubic feet per day, and the government aims to increase natural gas production to 5 billion cubic feet per day.
Finally, only $1 billion remains of the government’s accumulated receivables to oil companies.
