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FINANCIAL NEWS
Foreign oil firms invest USD8.1bn in Egypt
10 Aug 2017
(MENAFN) Foreign oil firms in Egypt posted investments of almost USD8.1bn in the fiscal years 2016/2017, more than USD6.6bn in 2015/2016.
Moreover, the numbers indicate a growth in investments by 22.7 percent amid the cited years, which ended on 30 June 2017.
Through the second half of 2016/2017, the country paid USD2.2bn of the arrears owed to the foreign oil firms working in Egypt.
The country predicts the Zohr field will start production before the end of the year to add almost 500mn cubic feet of gas per day to the nation’s production capacity.
MENAFN1008201700450000ID1095714428
MENAFN1008201700450000ID1095714428
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