Egypt: Foreign Investments in Public Oil Sector Hit $2.2 Billion

SourceAl Bawaba
SectorOil & Gas

The structure of oil and natural gas investments during the current fiscal year is 57.6 percent for the private sector, 38.4 percent for public companies, 0.3 percent for government agencies and bodies, and 3.7 percent for central projects. The source said that the Ministry of Petroleum and Mineral Resources aimed to develop gas fields and complete the Baltim South West offshore project, the Kattameya field project and the third phase of the Kamose-North Sinai project. The ministry is also targeting oilfield development projects, including the completion of a field, implemented by Petrozenima Company, as well as the construction of the seventh storage warehouse in the Western Desert, implemented by Depco Company. The Alhamd plant project in the Eastern Desert is also being developed. Egypt’s Minister of Planning and Economic Development Hala Al-Saeed said more...