Cairo – Mubasher: Investments by foreign oil firms in Egypt surged 22.7% to $8.1 billion in fiscal year 2016/2017 from $6.6 billion in the prior year, Egypt's minister of petroleum Tarek El-Molla told Reuters on Wednesday.
The "foreign partners" invested in exploration and development operations in Egypt during FY16/17, El-Molla added.
In June 2017, the minister had stated that the petroleum sector paid dues of $2.2 billion within the last three weeks to global oil firms working in Egypt.
