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  • 15-04-21

    Oil, gas sector contributes 24 percent of Egypt’s gross domestic product

    (MENAFN)A senior government minister stated that the oil and gas sector contributed 24 percent of Egypt’s gross domestic product (GDP) in last year and was one of the key sectors that supported the procedure of rebuilding the country’s economy in the wake of the economic challenges since 2011.

    The sector represented a significant role in the economic reforms the government had implemented, that helped to make an appealing environment for investors, stated Egyptian Petroleum Minister Tariq El-Molla.

    In Egypt, over 60 international oil and gas companies operate, including well-known names for example ExxonMobil and Chevron.

    Egypt inaugurated the EastMed Gas Forum in 2018 that was designed to support strategic discussion amid Eastern Mediterranean countries — whether they are producers or consumers — to accomplish optimal economic benefits and tackle common regional challenges.

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