The volume of foreign investments in oil and gas exploration in Egypt hit $16.2 billion in the last fiscal year, the petroleum minister said, according to the Global Arab Network.
Minister of Petroleum Sameh Fahmy said 22 agreements were signed during the two years of global financial crisis with international companies working in the field of oil and gas exploration.
Fahmy said Egypt plans to increase gas production to two billion cubic feet of gas and more than 710,000 barrels of oil daily.
