Cairo – Mubasher: Egypt has witnessed several major oil and gas development projects during the last five years, the country’s minister of petroleum and mineral resources, Tarek El-Molla, said.
A total of 27 gas field development projects have been implemented with estimated investments of $31 billion, raising Egypt’s total gas output to 7.2 billion cubic feet of per day (bcfpd) which allowed the country to achieve gas self-sufficiency, El-Molla added in statement on Sunday.
Over the five-year period, the North African nation signed 99 international agreements with minimum investments of $16 billion, in addition to reducing arrears owed to foreign partners by more than 80% to below $900 million, he revealed.
The country has also achieved a record level by supplying more than 1.25 million residential units with natural gas annually, raising the total number of gas-supplied residential units to above 10.6 million.
