Cairo - Mubasher: Thirteen development projects are underway in Egypt to gradually increase natural gas production to between 5.5 and 6 billion cubic feet per day, according to the minister of petroleum Tarek El Molla.
Investments in these projects total $33 billion (EGP 293.2 billion), according to a press release.
The Egyptian oil and gas sector signed around 67 deals in the past two years with investments reaching $14.3 billion (EGP 127 billion), said the minister.
These deals helped enhance the international companies’ confidence in the investment atmosphere in Egypt, and helped achieve the two biggest natural gas projects in the Mediterranean, El Molla added.
Last year, Italian energy company Eni announced it discovered a “supergiant” gas field off the coast of Egypt, the largest ever found in the Mediterranean Sea.
