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Total to invest $200 million in Egypt over next 5 years

Ahram Online , Thursday 13 Oct 2016
French energy company Total is expected to inject USD 200 million in new investments into ‎the Egypt
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French energy company Total is expected to inject $200 million in new investments into ‎the Egyptian market over the next five years, the Egyptian government said on Thursday after ‎a meeting between Prime Minister Sherif Ismail and a delegation from the French company currently visiting Cairo.

The delegation, which included the company’s vice president for Africa. ‎described the Egyptian market as “promising”, according to a statement by cabinet ‎spokesperson Hossam El-Qawish. ‎

On the sidelines of a gas conference in Cape Town earlier this month, Tom Earl, vice ‎president of gas and power development at the heavyweight French oil company, told Reuters that ‎Egypt could be importing between 15 million-20 million tons annually within a decade, ‎although actual volumes of imports would depend on the development of the county’s huge Zohr gas field, ‎which has an estimated 30 trillion cubic feet of gas.‎

 

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