{"id":668666,"date":"2025-07-20T00:00:00","date_gmt":"2025-07-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/"},"modified":"2025-07-20T00:00:00","modified_gmt":"2025-07-20T00:00:00","slug":"lukoil-plans-usd-23-mn-investment-in-oil-exploration","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/","title":{"rendered":"Lukoil plans USD 23 mn investment in oil exploration"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends, and welcome to a holiday-shortened workweek <\/strong>for our readers in Egypt. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a macro-heavy kind of morning<\/strong> thanks to Finance Minister Ahmed Kouchouk\u2019s roadshow to London last week and the good folks at the IMF. In short order, we have for you news that the ministry hopes to unlock USD 2.5 bn after it wraps the next two IMF reviews this fall; that tax reforms could double collection this fiscal year; and the inside track on where we stand in the phase-out of subsidies. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We also have word that the Customs Authority is mulling the imposition of a levy on royalties<\/strong> and reviews of both venture capital and M&A activity in Egypt in the first half of the year. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">^^ All of this and more below and in this morning\u2019s news well. <\/p>\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a> <strong>#1- Egypt is in for a long weekend: <\/strong>The <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/6c1be015-990e-4d0a-8b8f-5f8b6244d686\/fourth-floating-regasification-plant-incoming\" style=\"\" rel=\"noopener\">public<\/a> and <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/permalink.php?story_fbid=pfbid02AmrRPNA66QTFNtcaEugvwKemw6yujRP6MAKX9GXnBRb9y5M9hL7KVwgDUowc68LWl&id=100064535599158\" style=\"\" rel=\"noopener\">private<\/a> sectors will be taking Thursday, 24 July as a holiday in observance of the 23 July Revolution.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re off, too: <\/strong>EnterpriseAM Egypt will be taking a publication break on Thursday, but we\u2019ll be back in your inboxes on Sunday, 27 July. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a> <strong>#2- Fly directly from Abu Dhabi to Alamein: <\/strong>Etihad Airways kicked off service to Alamein from Abu Dhabi on Thursday \u2014 the new route offers twice-weekly flights on Thursdays and Sundays, Etihad Airways said in a <a target=\"_blank\" href=\"https:\/\/www.etihad.com\/en\/news\/etihad-airways-takes-off-to-al-alamein-opening-a-new-gateway-to-egypts-mediterranean-coast\" style=\"\" rel=\"noopener\">statement<\/a>. \u201cAs leisure travel continues to grow, destinations like Al Alamein offer tremendous appeal for our guests seeking premium summer experiences,\u201d the statement read.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another sunny day in Cairo, with a high of 36\u00b0C and a low of 25\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a little cooler in Alexandria<\/strong>, with a high of 31\u00b0C and a low of 22\u00b0C.<\/p>\n<p class=\"tag-border-left\">MORNING MUST-READ-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- Bragging to your clients about how much time you\u2019re saving with AI may not be good <\/strong><strong>for business. <\/strong>That\u2019s what PwC found: It had to \u201ccut prices for some services as clients raised the fact that the consultancy is using artificial intelligence to complete its work quicker. \u2018Clients would hear us talking about using AI and say, \u2018We want our fair share of those efficiencies,\u2019 PwC Chief AI Officer Dan Priest\u201d told <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-27\/pwc-s-ai-chief-says-firm-has-cut-prices-as-tech-saves-staff-time\" style=\"\" rel=\"noopener\">Bloomberg<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Some AI tools are now handling up to 90% of certain processes during an audit<\/strong>, <a target=\"_blank\" href=\"https:\/\/thefinancestory.com\/pwc-clients-ask-for-discounts-because-of-ai-efficiency\" style=\"\" rel=\"noopener\">The<\/a><a target=\"_blank\" href=\"https:\/\/thefinancestory.com\/pwc-clients-ask-for-discounts-because-of-ai-efficiency\" style=\"\" rel=\"noopener\">Finance Story<\/a> notes. AI is also \u201cshowing up in supply chain optimisation and risk analytics \u2026 [and] automating GST filings, transfer pricing reviews, and global tax strategies.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The catch: You still have to believe what the AI says. <\/strong>Tech strategy pundit and former VC sage <a target=\"_blank\" href=\"https:\/\/www.threads.com\/@benedictevans\/post\/DMP8DGBOKso?xmt=AQF0AHXMOSIE932AQNAyKdbA7kuTNB4mRctn72L3sAgZ9A\" style=\"\" rel=\"noopener\">Benedict Evans put it nicely<\/a>: \u201cI find it puzzling and frustrating that OpenAI and Anthropic keep launching new models where they propose as use cases highly specific information retrieval in professions that require zero defects, when their systems are inherently incapable of doing that. <strong>These are use cases where \u201880% correct\u2019 is meaningless \u2014 there is only right or not right.<\/strong> There are lots of scenarios where a system that produces a fantastic first draft is useful. But \u2018build me a DCF\u2019 where you should presume that there are mistakes everywhere is not useful.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Mansoura University grad Mahmoud Felfel (<\/strong><strong><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/mahmoud-felfel\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a><\/strong><strong>) has sold his <\/strong><strong>California-headquartered startup PlayAI to Mark Zuckerberg\u2019s Meta. <\/strong>It\u2019s a homecoming of sorts for the former Dubizzle engineer, who co-founded PlayAI in April 2020 but worked for Meta-owned WhatsApp as a software engineer for part of 2021 and 2022. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What\u2019s <\/strong><strong><a target=\"_blank\" href=\"https:\/\/play.ai\/\" style=\"\" rel=\"noopener\">PlayAI<\/a><\/strong><strong>?<\/strong> The company bills itself as a \u201cplatform for generative speech and voice cloning\u201d and is used by teams at companies including Amazon, Coursera, and Chevron as well as by the US Army, according to its website. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The PlayAI team joins Meta this week<\/strong>, according to <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-11\/meta-acquires-voice-ai-startup-playai-continuing-to-add-talent\" style=\"\" rel=\"noopener\">Bloomberg<\/a>. There\u2019s no word on how much the acquisition cost Zuckerberg. PlayAI <a target=\"_blank\" href=\"https:\/\/blog.play.ai\/blog\/21m-funding\" style=\"\" rel=\"noopener\">said<\/a> last November that it had raised USD 21 mn in seed and pre-seed funding from outfits including Kindred Ventures, Y Combinator, and 500Global.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">WATCH THIS SPACE- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- HSBC has launched a new bid to figure out who will succeed Sir Mark Tucker as <\/strong><strong>chairman<\/strong> after none of the 100 or so names considered in the first search worked out. \u201cSome of the candidates of interest to the board were unavailable while others had declined when approached,\u201d the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/f2aa59bb-e956-4165-99b3-19a04dbdd8a5?shareType=nongift\" style=\"\" rel=\"noopener\">Financial Times<\/a> reports.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>#2- Russian energy giant Lukoil plans to invest around USD 23 mn in oil exploration in <\/strong><strong>the Eastern Desert<\/strong>, a government official told <a target=\"_blank\" href=\"https:\/\/asharqbusiness.com\/power\/90209\/%D9%84%D9%88%D9%83-%D8%A3%D9%88%D9%8A%D9%84-%D8%A7%D9%84%D8%B1%D9%88%D8%B3%D9%8A%D8%A9-%D8%AA%D8%B3%D8%AA%D8%AB%D9%85%D8%B1-23-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%84%D9%84%D8%AA%D9%86%D9%82%D9%8A%D8%A8-%D8%B9%D9%86-%D8%A7%D9%84%D9%86%D9%81%D8%B7-%D8%A8%D9%85%D8%B5%D8%B1\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Operations are expected to focus in the west Gulf of Suez. The Russian company is set to conduct a seismic survey this month and drill six exploratory wells throughout a three-year research period in the region.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt4\"><\/a> <strong>#3-<\/strong> <strong>More Egyptian projects in Libya? <\/strong>The value of Egyptian projects in Libya is expected to double to USD 10 bn by 2028, an official from the General Libyan Union of Chambers of Commerce told <a target=\"_blank\" href=\"https:\/\/x.com\/AsharqbEGY\/status\/1946585944636735953\" style=\"\" rel=\"noopener\">Asharq Business<\/a>. Libya\u2019s Reconstruction Fund has allocated LYD 69 bn (c. USD 12.7 bn) for companies participating in the rebuilding effort, with Egyptian firms expected to take a significant share, he added.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REFRESHER-<\/strong> Egypt is already ramping up its investment presence in Libya, moving forward with plans to <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/623360c0-d595-4ace-ba9d-796a898b02ae\/egypt-to-invest-usd-250-mn-setting-up-two-industrial-zones-in%253cmark%253e-libya%253c%2Fmark%253e\" style=\"\" rel=\"noopener\">set up two industrial zones in Libya<\/a> worth USD 250 mn, with at least 22 local companies having expressed interest in the projects. Egyptian firms are also forming joint ventures with Libyan counterparts to ease market entry. <\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily   <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"\/egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>  <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** DID YOU KNOW that we cover <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/ksa\/en\" style=\"\" rel=\"noopener\">Saudi Arabia<\/a><\/strong><strong> and the <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\" style=\"\" rel=\"noopener\">UAE<\/a><\/strong><strong>?<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>** Were you forwarded this email?<\/strong> <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/user\/news-letters\" style=\"\" rel=\"noopener\">Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">THE BIG STORY ABROAD- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Trump\u2019s lawsuit against the Wall Street Journal is dominating global headlines this <\/strong><strong>morning: <\/strong>US President Donald Trump has filed a USD 10 bn libel lawsuit against the Wall Street Journal, owner Rupert Murdoch, Dow Jones, and News Corp after the newspaper published claims that Trump had contributed a suggestive letter to a scrapbook for Jeffrey Epstein\u2019s 50th birthday, marking his most aggressive legal challenge to media coverage since entering office. Reactions to the WSJ report and lawsuit have been sharply divided \u2014 even within Trump\u2019s base. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/world\/us\/trump-sues-wall-street-journal-over-epstein-report-seeks-10-billion-2025-07-19\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-07-19\/trump-s-ambitions-collide-with-epstein-fed-and-health-concerns?srnd=homepage-middle-east\" style=\"\" rel=\"noopener\">Bloomberg<\/a> | <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/9cbc70f4-bd31-4049-a5b1-9e670a48a5ec\" style=\"\" rel=\"noopener\">Financial Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2025\/07\/19\/us\/politics\/inside-trump-epstein-friendship.html\" style=\"\" rel=\"noopener\">New York Times<\/a> | <a target=\"_blank\" href=\"https:\/\/www.theguardian.com\/us-news\/2025\/jul\/18\/trump-libel-lawsuit-wsj-dow-jones-rupert-murdoch\" style=\"\" rel=\"noopener\">The Guardian<\/a>)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>AND- Trump wants higher tariffs on EU goods:<\/strong> Trump is pushing for a 15-20% baseline tariff on EU imports, in an aggressive turn that could derail talks ahead of his self-imposed 1 August deadline, writes the <a target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/43c98c4b-8772-4279-ad55-e46bd22409de\" style=\"\" rel=\"noopener\">Financial Times<\/a>, citing sources familiar with the matter. Trump is also unwilling to lower 25% auto tariffs and \u201cwould be happy to keep duties on the sector,\u201d according to the sources. The EU, which has already faced steep US duties on steel and aluminum, appears divided on countermeasures.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends, and welcome to a holiday-shortened workweek for our readers in Egypt. It\u2019s a macro-heavy kind of morning thanks to Finance Minister Ahmed Kouchouk\u2019s roadshow to London last week and the good folks at the IMF. In short order, we have for you news that the ministry hopes to unlock USD 2.5 bn [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":668667,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7204],"tags":[72,91,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-668666","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-oil-and-gas","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"93a82092-423b-4032-826a-f49e93261917","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2025\/7\/1225.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Lukoil plans USD 23 mn investment in oil exploration","related_issue":[668664],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/7\/.9534595e-61a9-449a-91ed-c5bcfd966516.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Lukoil plans USD 23 mn investment in oil exploration - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lukoil plans USD 23 mn investment in oil exploration\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends, and welcome to a holiday-shortened workweek for our readers in Egypt. It\u2019s a macro-heavy kind of morning thanks to Finance Minister Ahmed Kouchouk\u2019s roadshow to London last week and the good folks at the IMF. In short order, we have for you news that the ministry hopes to unlock USD 2.5 bn [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2025-07-20T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Lukoil plans USD 23 mn investment in oil exploration\",\"datePublished\":\"2025-07-20T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/\"},\"wordCount\":1129,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"oil and gas\",\"What We're Tracking Today\"],\"articleSection\":[\"What We're Tracking Today\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/\",\"name\":\"Lukoil plans USD 23 mn investment in oil exploration - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2025-07-20T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Lukoil plans USD 23 mn investment in oil exploration\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Lukoil plans USD 23 mn investment in oil exploration - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/","og_locale":"en_US","og_type":"article","og_title":"Lukoil plans USD 23 mn investment in oil exploration","og_description":"Good morning, friends, and welcome to a holiday-shortened workweek for our readers in Egypt. It\u2019s a macro-heavy kind of morning thanks to Finance Minister Ahmed Kouchouk\u2019s roadshow to London last week and the good folks at the IMF. In short order, we have for you news that the ministry hopes to unlock USD 2.5 bn [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2025-07-20T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Lukoil plans USD 23 mn investment in oil exploration","datePublished":"2025-07-20T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/"},"wordCount":1129,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1","keywords":["EnterpriseAM","oil and gas","What We're Tracking Today"],"articleSection":["What We're Tracking Today"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/","url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/","name":"Lukoil plans USD 23 mn investment in oil exploration - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1","datePublished":"2025-07-20T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/lukoil-plans-usd-23-mn-investment-in-oil-exploration\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Lukoil plans USD 23 mn investment in oil exploration"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1225.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":678084,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/24\/imf-to-front-load-usd-2-7-bn-in-liquidity-to-egypt-next-month\/","url_meta":{"origin":668666,"position":0},"title":"IMF to front-load USD 2.7 bn in liquidity to Egypt next month","author":"enterpriseam admin","date":"24 December 2025","format":false,"excerpt":"Good afternoon, friends. We\u2019re starting up our weekly wind-down and looking forward to a festive Christmas Eve spent with friends and family \u2014 we hope you\u2019re doing the same. But before you get too cozy, here\u2019s the news.THE BIG STORY TODAY- ?EXCLUSIVE- Egypt expects to receive a c.USD 2.7 bn\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/10\/2880.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":684312,"url":"https:\/\/enterpriseam.com\/egypt\/2026\/03\/04\/egp-steadies-following-usd-2-3-bn-imf-inflow\/","url_meta":{"origin":668666,"position":1},"title":"EGP steadies following USD 2.3 bn IMF inflow","author":"enterpriseam admin","date":"4 March 2026","format":false,"excerpt":"Good afternoon, friends. It\u2019s another busy day in the press, and the news cycle isn\u2019t showing any signs of slowing down. At home, we\u2019re taking a look at how the EGP is faring. THE BIG STORY TODAY- \ud83d\udccd The EGP held steady in midday sessions following several days of steep\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2026\/3\/256.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563332,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/28\/this-morning-imf-presser-today-shoukry-in-rome-for-anti-daesh-meeting-fake-vaccine-certificates-in-vogue-in-moscow\/","url_meta":{"origin":668666,"position":2},"title":"THIS MORNING: IMF presser today; Shoukry in Rome for anti-Daesh meeting; Fake vaccine certificates in vogue in Moscow.","author":"enterpriseam admin","date":"28 June 2021","format":false,"excerpt":"Good morning, everyone, and a very happy Monday to you all on this holiday-shortened week.WHAT\u2019S HAPPENING TODAY- The IMF is holding a virtual press conference today on the disbursal of the USD1.6 bn third and final tranche of our USD 5.2 bn standby loan, Al Shoroukreports. IMF mission chief Celine\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601690,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/07\/what-were-tracking-on-06-march-2019\/","url_meta":{"origin":668666,"position":3},"title":"What we\u2019re tracking on 06 March 2019","author":"enterpriseam admin","date":"7 March 2019","format":false,"excerpt":"Good morning, friends, and happy Thursday from Enterprise Global Headquarters, where we are all looking forward to a warm and sunny weekend.Egypt won\u2019t go back to the IMF, cap in hand for more: Our future cooperation with the IMF on the reform program will not involve another loan, Madbouly Cabinet\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":679439,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/12\/31\/govt-targets-usd-6-bn-investments-to-secure-final-imf-reviews\/","url_meta":{"origin":668666,"position":4},"title":"Gov\u2019t targets USD 6 bn investments to secure final IMF reviews","author":"enterpriseam admin","date":"31 December 2025","format":false,"excerpt":"Good afternoon, ladies and gentlemen. Today\u2019s issue bids adieu to 2025 \u2014 a busy, packed, and eventful year that passed at breakneck speed. Blinked one too many times or took an extended no-screen vacation? We\u2019ve listed the good, the bad, and the ugly below for your convenience.Don\u2019t forget: Banks and\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/121.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":597344,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/24\/what-were-tracking-on-24-july-2019\/","url_meta":{"origin":668666,"position":5},"title":"What we\u2019re tracking on 24 July 2019","author":"enterpriseam admin","date":"24 July 2019","format":false,"excerpt":"Good morning, folks, and welcome back to the second half of our shortened work week. We should find out today whether the IMF\u2019s executive board will sign off on disbursing the final USD 2 bn tranche of our USD 12 bn loan. Egypt reached a staff-level agreement with the IMF\u2026","rel":"","context":"In &quot;What We're Tracking Today&quot;","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/668666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=668666"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/668666\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/668664"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/668667"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=668666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=668666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=668666"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=668666"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=668666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}