Advertise your business here! 🚀

Contact us now and get more customers.

Smiling woman thumbs up

Egypt Pays $500M In Arrears To Foreign Oil Companies

oil-gas
Sep 23, 2025
Article Source LogoArabian Gulf Business Insight
Arabian Gulf Business Insight

Egypt’s government has paid nearly $500 million in overdue debt to foreign companies in a bid to encourage them to intensify operations and reverse a decline in its gas output.

The government made the payment in September and intends to settle another part of the arrears with a payment of $620 million before the end of 2025, the Saudi news website Asharq Business said, quoting an unnamed Egyptian official.

With this month’s settlement, Egypt owes foreign oil companies operating its oil and gas fields around $1.72 billion, the report said.

It added that the official affirmed the government hoped to “clear all the overdue dues” to foreign oil companies by the end of the first quarter of 2026.

Earlier this month Egypt’s oil minister Karim Badawi said that gas production is expected to recover following significant discoveries by companies operating in Egypt.

Badawi, speaking at a meeting with heads of those companies in Cairo, said the decision by President Abdel Fattah Al-Sisi to pay foreign partners regularly would boost investor confidence and encourage them to pump more investments.

“The joint efforts with our partners in the oil and gas sector have contributed to reducing the decline in gas production, achieving stability and beginning the journey back to high production rates,” the minister said.

Prime Minister Mostafa Madbouly said in July that new projects and the award of more contracts to foreign oil majors would boost Egypt’s gas output and allow it to export again in 2027.

AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East.

Already registered? Sign in

I’ll register later

AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East.

Already registered? Sign in

I’ll register later

Share Your Insights!

Publish your articles, reach a global audience, and make an impact.

0
Recent Comments

Oil and Gas Related News You might want to check out

View by
Egypt Pays $500M In Arrears To Foreign Oil Companies
Egypt Pays $500M In Arrears To Foreign Oil Companies
Arabian Gulf Business Insight
23 September 2025
oil-gas
Every Last Drop: Ai-Powered Analysis Reveals Oil Industry'S Trillion-Barrel Opportunity In Existing Fields
Every Last Drop: Ai-Powered Analysis Reveals Oil Industry'S Trillion-Barrel Opportunity In Existing Fields
Oilfield Technology
18 September 2025
oil-gas
Dp World’S Cad $150 Million Investment Expands Canada’S Canola Oil Export Capacity
Dp World’S Cad $150 Million Investment Expands Canada’S Canola Oil Export Capacity
Gulf Oil and Gas
18 September 2025
oil-gas
Ukraine Will Need To Buy $1 B Of Gas To Hit Winter Storage Target After Russian Attacks
Ukraine Will Need To Buy $1 B Of Gas To Hit Winter Storage Target After Russian Attacks
Gas Processing and LNG
17 September 2025
oil-gas
Energean Wins Us$4 Billion In Israeli Gas Contracts In H1 2025
Energean Wins Us$4 Billion In Israeli Gas Contracts In H1 2025
Oilfield Technology
15 September 2025
oil-gas
Crc To Acquire Berry In $717 Million All-Stock Merger, Expanding California Oil Assets
Crc To Acquire Berry In $717 Million All-Stock Merger, Expanding California Oil Assets
World Oil
15 September 2025
oil-gas
Us:  Epa Releases Proposal To End The Costly Greenhouse Gas Reporting Program, Saving Up To $2.4 Billion
Us: Epa Releases Proposal To End The Costly Greenhouse Gas Reporting Program, Saving Up To $2.4 Billion
Energypedia News
13 September 2025
oil-gas
Kuwait Petroleum Eyes $7 Billion Pipeline Deal To Fund Upstream Oil Expansion
Kuwait Petroleum Eyes $7 Billion Pipeline Deal To Fund Upstream Oil Expansion
World Oil
12 September 2025
oil-gas
Kuwait Soil Remediation Program Accelerates With Eight Million Tonnes Treated
Kuwait Soil Remediation Program Accelerates With Eight Million Tonnes Treated
Saudi Gulf Projects
11 September 2025
oil-gas
Energean Nets $4B In New Israeli Gas Offtake Deals
Energean Nets $4B In New Israeli Gas Offtake Deals
Offshore Engineer
11 September 2025
oil-gas
Energean Lands $4 Billion In Israeli Gas Deals But Cuts Output Amid Conflict
Energean Lands $4 Billion In Israeli Gas Deals But Cuts Output Amid Conflict
Pipeline Gas Journal
11 September 2025
oil-gas
Turkey: Saipem Awarded New Offshore Contract For Sakarya Gas Field Development Worth Approx. 1.5 Billion Usd
Turkey: Saipem Awarded New Offshore Contract For Sakarya Gas Field Development Worth Approx. 1.5 Billion Usd
Energypedia News
10 September 2025
oil-gas