Cairo – Mubasher: Investments in Egypt’s gas fields are likely to increase to $27.3 billion in 2018, Egypt’s petroleum minister Tarek El-Molla told Shorouk News.
About 230 gas well will be drilled at a value of $2 million, and $27.3 billion will be invested in the fields of Zohr, North Alexandria, and Noras, El-Molla highlighted.
El-Molla forecasted the completion of 83 deals at a value of $15.5 billion to obtain privileges of drilling wells.
The value of the new oil refining projects stands at $3.8 billion, El-Molla said, adding that natural gas projects are expected to rise 50% and 100% in 2018 and 2010, respectively.
Egypt plans to increase its gas output 50% by June 2018, as it provided investments worth $31 billion in three to four years to develop gas discoveries.
