The Ministry of Petroleum and Mineral Resources (MoPMR) stated that after the petroleum sector returned to roll out bid rounds, 119 new petroleum agreements were signed with international companies, with investments of $22.3 billion as a minimum, and signature grants of up to $1.34 billion.

This came in a published a statement from the Ministry tracking its achievements over the past nine years. After the petroleum sector returned to bidding,

Egypt also implemented 53 projects to develop the discovered fields, with an investment of about $33.7 billion.

Moreover, there are a number of new projects that are being implemented to develop natural gas and crude oil fields, with an investment of about $1.9 billion.

In the past nine years, MoPMR successfully attracted new companies in the field of research and exploration, such as Chevron and ExxonMobil.