Egyptian oil output has declined to 800,000 b/d from peak levels of nearly 1 million b/d in the mid-1990s, and the country is actively encouraging international firms to invest in the oil and gas sector in the country to reverse the declining hydrocarbon output trend.
Egyptian Oil Minister Sameh Fahmy s said the country plans to develop recent discoveries in the Gulf of Suez and the
Essar Global"s proposed refinery is part of its plan to have a larger presence in western Asia, where oil-fueled growth and a construction boom have boosted domestic consumption, squeezing supplies to Europe and
The diversified group also is conducting talks with
PIN/OGJ.COM
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