During a press conference, Madbouly attributed the decline in production to arrears, but he did not mention the amount owed by the government or reveal the date of their payment.
Sources told Reuters in March that the government had set aside up to $1.5 billion for payments to foreign oil and gas companies operating in the country. The arrears had built up amid a long-running foreign exchange shortage that has since eased.
Egypt suffers from a deficit in electricity supplies as demand for cooling systems increases in the summer. The country generates most of its electricity by burning natural gas.
In July, the government stopped power cuts as part of what it calls load shedding, after some natural gas shipments arrived.
Madbouly said that load shedding will not return again, adding that the government has allocated $2.5 billion to ensure this.
He added that there are also plans to connect the electricity grid between Egypt Saudi Arabia is in the first phase by the summer of 2025.
