{"id":630507,"date":"2018-04-23T04:26:24","date_gmt":"2018-04-23T04:26:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/23\/egypt-looks-to-attract-usd-10-bn-in-new-foreign-investment-in-oil-and-gas-sector-for-next-budget-year\/"},"modified":"2018-04-23T04:26:24","modified_gmt":"2018-04-23T04:26:24","slug":"egypt-looks-to-attract-usd-10-bn-in-new-foreign-investment-in-oil-and-gas-sector-for-next-budget-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/04\/23\/egypt-looks-to-attract-usd-10-bn-in-new-foreign-investment-in-oil-and-gas-sector-for-next-budget-year\/","title":{"rendered":"Egypt looks to attract USD 10 bn in new foreign investment in oil and gas sector for next budget year"},"content":{"rendered":"

<\/a> And speaking of EastMed gas, Egypt is looking to attract as much as USD 10 bn in new foreign investment in the oil and gas sector in FY2018-19, <\/strong>thanks to new discoveries in the East Mediterranean, Oil Minister Tarek El Molla said yesterday, Reuters reports<\/a>. The minister said he expects foreign investment in the sector to stand somewhere close to that figure at the end of the current fiscal year, \u201cmarking a 25% y-o-y increase from the previous year.\u201d A number of oil and gas majors \u2014 including Eni, Shell, Edison, and BP \u2014 had last week announced<\/a> intentions to expand their existing activities in Egypt. Oilfield services outfit Schlumberger also said it was investing USD 60 mn in a new data center to make industry information more accessible.<\/p>\n","protected":false},"excerpt":{"rendered":"

And speaking of EastMed gas, Egypt is looking to attract as much as USD 10 bn in new foreign investment in the oil and gas sector in FY2018-19, thanks to new discoveries in the East Mediterranean, Oil Minister Tarek El Molla said yesterday, Reuters reports. The minister said he expects foreign investment in the sector […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630507","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"05aeb129-ae46-45eb-b0e3-c11da88518bc","order":"0","is_powered_by":true,"section_story_id":"17c1d815-9ae4-4552-ba14-52f09db163e9","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630494],"teaser":"","voice_url":""},"yoast_head":"\nEgypt looks to attract USD 10 bn in new foreign investment in oil and gas sector for next budget year - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/04\/23\/egypt-looks-to-attract-usd-10-bn-in-new-foreign-investment-in-oil-and-gas-sector-for-next-budget-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt looks to attract USD 10 bn in new foreign investment in oil and gas sector for next budget year\" \/>\n<meta property=\"og:description\" content=\"And speaking of EastMed gas, Egypt is looking to attract as much as USD 10 bn in new foreign investment in the oil and gas sector in FY2018-19, thanks to new discoveries in the East Mediterranean, Oil Minister Tarek El Molla said yesterday, Reuters reports. 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This would raise the proportion of foreign investment in the sector to 40% from 35%, the minister said. Foreign companies invested\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/252.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542974,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/26\/new-oil-gas-exploration-bid-round-coming-soon\/","url_meta":{"origin":630507,"position":1},"title":"New oil + gas exploration bid round coming soon","author":"enterpriseam admin","date":"26 January 2022","format":false,"excerpt":"New oil and gas exploration rights will be up for grabs in 1H2022. The government plans to launch a new global tender for oil and gas exploration before June, Bloomberg Asharq reported Oil Minister Tarek El Molla as saying during a press conference yesterday. No further details were disclosed on\u2026","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/343.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542945,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/25\/govt-targets-usd-7-bn-oil-fdi-in-2022-2023\/","url_meta":{"origin":630507,"position":2},"title":"Gov\u2019t targets USD 7 bn oil FDI in 2022-2023","author":"enterpriseam admin","date":"25 January 2022","format":false,"excerpt":"The Oil Ministry wants to attract USD 7 bn of foreign direct investment (FDI) into the oil and gas sector in FY 2022-2023, Reuters reported Oil Minister Tarek El Molla as telling Sky News Arabia TV yesterday.Oil + gas accounts for almost half of Egypt\u2019s FDI: At least, it did\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/325.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":593511,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/01\/current-account-deficit-widens-to-usd-8-2-bn-in-fy-2018-2019\/","url_meta":{"origin":630507,"position":3},"title":"Current account deficit widens to USD 8.2 bn in FY 2018-2019","author":"enterpriseam admin","date":"1 October 2019","format":false,"excerpt":"Egypt\u2019s current account deficit widened to USD 8.2 bn in FY 2018-2019, up from USD 6 bn the previous year, according to central bank figures (pdf). 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