Egypt’s Govt Approves to Ink 21 Fresh Oil Agreements Worth $700 mln

Eng. Sherif Ismail, the Egyptian Petroleum Minister, has asserted that there are 21 petroleum agreements that have been presented to the Cabinet during the last phase, the Cabinet approved and these agreements presented to the Presidency.

The Minister has emphasized in a press conference in order to disclose the Ministry’s strategy and plan within the coming period, as the agreements include 16 fresh and 5 agreements have been amended so as to implement in the future plan.

Ismail has emphasized that the total investments of these agreements reached $ 700 million at minimum and $ 125 million grant signing, explaining that Egypt is still an attractive market for foreign investment, which is followed by further agreements and bids.