NVO News: USD 47 Bln-Worth Investments in Energy Sector in Five years – Egypt’s Min

Egyptian Petroleum and Mineral Resources Minister Sherif Ismail has estimated the total investments to be pumped in his country’s energy sector in the next five years at USD 47 billion.

Ismail made the remarks during the inauguration of phase (9-A) of the mega project of developing the deep water oil fields of West Delta in the Mediterranean Sea, a press statement by the cabinet said. The ceremony was attended by Prime Minister Ibrahim Mahlab.

The USD 6.1 billion project will produce 400 million cubic feet of natural gas and 2,500 barrels of condensates per day, the Minister said.

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