Egypt's petroleum exports are to hit 27 million tons in the fiscal year (FY) 2004-2005, Minister of Petroleum Sameh Fahmy has recently said.
More than 18.5 million tons of petroleum products worth $4.2 billion were exported in FY 2003-2004, and exports are expected to total 45 million tons by 2010, Fahmy added.
"Egypt's petroleum sector has tremendous investment potential, and foreign investment in oil and gas exploration was at an all-time high during the last fiscal year," the minister said.
He noted that (FY) 2003/2004 witnessed a leap in foreign investments inflow in prospecting for oil and gas and promoting the productive fields. (menareport.com)
