Egypt says ithas attractive investment opportunities in oil sector

Jan 21, 2003 01:00 AM

Oil Minister Samih Fahmi has said that there are attractive and various investment opportunities in the oil sector in Egypt.
Addressing the opening session of a conference on oil and gas, Fahmi said among the investment opportunities, are projects of oil and gas services and human wealth development. Fahmi put the volume of direct foreign investments in the excavation and oil production since 1980 and until now at $ 28 bn.

Fahmi said the Oil Ministry's plans aim at luring $ 20 bn worth of investments within the coming six years. He added that the ministry is now applying a new strategy that includes inviting the global companies to take part in the giant export-oriented projects.
The two-day conference is attended by a number of experts in the oil and energy fields, government officials and businessmen.

Source: Africast.com
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