Shell investments in FY 2015-16 increased by 15% to reach $450 million

shellRoyal Dutch Shell has increased its investments in Egypt by 15% y-o-y to reach USD 450 mn, during FY 2015-2016, Oil Minister Tarek El Molla following a meeting with Andrew Brown, Shell’s global upstream director, Ahram Gate reported.

Brown, who is visiting Egypt, added that the oil company sees promising investment opportunities in Egypt, particularly following the latest discoveries in the Western Desert and the Mediterranean. Shell is reportedly owed USD 1.3 bn in receivables from the Egyptian government.

(Source: Enterprise.press)

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