Egypt to top MENA, African states in luring oil investments – official

Egypt will be one of the Middle East and Africa’s top countries in attracting major international investments to undertake petroleum and gas projects, especially after attaining self-sufficiency in natural gas production, said Head of Parliament’s Energy and Environment Committee Lawmaker Talaat el Sewedy.

A visit by representatives of nine Singaporean oil and gas companies to Cairo to explore potential cooperation and hold talks with leading Egyptian oil and gas companies, proves Egypt’s success in luring international companies to pump investments in the petroleum field, the lawmaker said in a statement issued on Thursday.

He attributed the boom in the country’s energy field to the major support it received by the President Abdel Fattah al-Sisi and the achievements realized by Petroleum Minister Tarek el Molla and the leaderships of his ministry.

Source: MENA