The Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, confirmed that the recent economic reforms have placed the country on the map as a leading destination for investments. The country has signed 98 agreements with international oil and gas companies since 2014, setting an all-time record, along with establishing four major refining projects with investments of $4.6 billion, El-Molla said in a statement on Tuesday.
In addition, the North African nation also managed to reduce the volume of imported petroleum products by 35%.The total value of investments injected into the oil and gas sector reached $74 billion from fiscal year (FY) 2014/2015 to FY19/20.