 16-May-19, Zawya 

Egypt’s petroleum sector is set to attract $10 billion of investment in its coming financial year, adding to the $30 billion that has been invested over the past three years, according to an industry head.

Image: Reuters / Amr Abdallah Dalsh

Mohamed Saad, head of the oil chamber at the Federation of Egyptian Industries, said investments in current and past financial years have "helped Egypt to achieve self-sufficiency" in natural gas production. 

Saad said that the natural gas sector had represented "an overload" on the state in the past as a result of weak production, but said the situation had now transformed, with the country transitioning from self-sufficiency towards becoming a natural gas exporter.

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