Egypt's Cabinet approved granting a golden license to the Egyptian Natural Gas Company (GASCO) regarding a project to increase the capacity of the Western Desert Gas Complex with a fourth production line with a design capacity of 600 million cubic feet per day.
It spans about 33 acres in the Industrial Nahda Zone in Amreya, Alexandria Governorate.
The project aims to increase the production of natural gas derivatives, meet the raw material needs of petrochemical factories, and ensure a steady supply of LPG to support local market demands.
Furthermore, the Cabinet approved a draft law authorizing the Minister of Petroleum and Mineral Resources, Tarek el-Molla, to sign a contract with the Egyptian General Petroleum Corporation (EGPC) and Lukoil Overseas Egypt.
The contract aims to search for, develop, and exploit oil in the West-East Esh el-Mallaha development area in the Eastern Desert to continue development operations and increase production rates.
The Cabinet also granted the golden license to private company EgyptSat Auto to build and operate a factory that will begin producing electric vehicles (EVs) by the end of 2024.