Foreign partners in the petroleum sector aim to increase investments to about $11bn by the end of this fiscal year (FY) in the petroleum, exploration, developing, and operating fields, compared to $10bn in the last FY. He explained that the foreign partners in the petroleum sector have increased the investments planned for this FY, in order to speed up implementing the gas projects agreed upon with the petroleum ministry. Moreover, he clarified that the initiatives to repay and reduce the dues had a positive impact on foreign petroleum companies’ investments in Egypt. The petroleum sector is currently implementing plans to increase petroleum wealth production. The source finally stated that Egypt has attractive investment opportunities in the petroleum sector, and there are promising opportunities in the petroleum production sector.

Source: Daily News Egypt December 16, 2018 19:52 UTC