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FINANCIAL NEWS
Egypt to enhance natural gas production
21 Aug 2016
(MENAFN) Egypt has 13 development projects underway in order to boost natural gas production to between 5.5 and 6b cubic feet per day.
Additionally, investments in these projects value USD33bn, while the Egyptian oil and gas sector signed almost 67 deals in the last 2 years with investments at USD14.3b.
Moreover, these deals helped boosting the global firms” confidence in the investment atmosphere in the country and achieve two natural gas projects in the Mediterranean.
Accordingly, an Italian firm proclaimed that it discovered a supergiant gas field off the coast of Egypt, the largest founded in the Mediterranean Sea.
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