Petroleum Minister Eng. Abdullah Ghorab stressed the importance of maintaining oil production and attracting more investments as well as signing more agreements to intensify operations of prospecting for oil and gas.
Ghorab said the oil and gas industry is one of the most important foundations for the Egyptian national economy not only for meeting the needs of the country of oil products but also securing foreign currency and boosting overall economic and social development.
He added that foreign investments in the oil sector reached $7 billion since the January 25 revolution.
Ghrab made the statements after meeting with an international shell oil delegation who said shell will intensify its prospecting for oil in Egypt.
Source: Egypt State Information Service