Three Japanese Companies Offer Oil, Gas Prospecting
March 1, 2006
The oil sector has received offers from three Japanese companies for oil and gas exploration in Egypt, promoting the Abu Qair offshore gas field and producting liquefied gas for exports to Europe and the US. A Japanese economic delegation is to arrive in Cairo early next month for talks with Oil Minister Sameh Fahmi. Eng. Mahmoud Daboos, head of the US (IBR) said the US-Japanese companies have earmarked funds for oil and gas projects in Egypt and that the company’s new investments in Egypt this year reached $75 million.