Africa Oil & Gas: Egypt Predicts $25 Billion in Investments

Image courtesy of Eni

Egyptian Minister of Petroleum, Tarek El Molla, revealed that the country will see $25 billion invested in oil and gas sector projects over the next four years. 

El Molla said increasing oil and gas production is a priority for the government, which is stepping up efforts to attract more investors to the sector.

Over the past four years, the sector has successfully implemented 24 projects for a total investment of $2.16 billion, with a total daily production of approximately 1.4 Bcf and 36,000 bpd of condensate. The majority of these investments resulted in an increase in gas production.

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