Egypt’s oil, gas, mining investments 3.9% up in Q1 of FY2016/17: sources

Egypt’s investments in oil, gas, and mining sectors rose 3.9 percent to $15 billion during the first quarter of financial year 2016/2017, an official in Petroleum Ministry said Sunday.

Investments in natural gas sector climbed by 67.6 percent, whereas in crude sector, they inched up by 6.6 percent, the ministry source further told Amwal Al Ghad.

“We are seeking to achieve investments worth $8 billion in oil sector within financial year 2016/2017,” Petroleum Minister Tarek El-Molla said in an earlier statement.