Cairo – Mubasher: Foreign investments in the Egyptian oil and gas sector hit approximately $10 billion in the current fiscal year, up $2 billion from the last year, Alborsa News reported, citing petroleum minister Tarek El-Molla as saying.
The petroleum ministry is planning to launch new international oil and gas exploration tenders at Eastern Mediterranean and onshore Delta Nile in the second half of FY17/18, El-Molla added.
The ministry is also planning to announce the first international tender at the Egyptian economic water in the Red Sea and Southern Egypt.
The North African nation's debts to the foreign oil companies stood at about $2.4 billion at the end of June 2017.
The Arab world's most populous country is seeking to accelerate production from recently discovered fields to halt gas imports by 2019 in a bid to achieve natural gas self-sufficiency.
