Sunday, September 17, 2017

IOCs raise investments in Egypt to USD 10 bn this year – El Molla - ENTERPRISE


Sunday, 17 September 2017

International oil companies have raised their investments in Egypt to USD 10 bn this year on the back of payments the government have been making to arrears it owes them, Oil Minister Tarek El Molla tells Al Borsa on Saturday


Arrears had fallen to USD 2.3 bn, the lowest it has been since 2013, El Molla stated. The ministry plans to issue new tenders and auctions for concessions, he added.


SOURCE