El Molla: IOCs raised Egypt investment to $10 bn this year

tarek-elmollaInternational oil companies (IOCs) have raised their investments in Egypt to USD 10 billion this year on the back of payments the government have been making to arrears it owes them, Oil Minister Tarek El Molla tells Al Borsa on Saturday. Arrears had fallen to USD 2.3 billion, the lowest it has been since 2013, El Molla stated. The Ministry plans to issue new tenders and auctions for concessions, he added.

(Source: Enterprise.press)

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