The trillions keep coming

Egypt has recently reorganised its energy sector with the main focus on natural gas. As part of plans to become a major gas exporter, it is looking for fresh foreign investment. David Townsend reports on restructuring and recent exploration successes in the country

THE EGYPTIAN oil ministry expects about $20bn of foreign investment to flow into oil and gas exploration and production (E&P), gas-export projects and the petrochemicals sector over the next five to six years. Petroleum minister Sameh Fahmy says this would be a significant amount, given that international energy companies invested $28bn in the sector over the last 20 years. Following last year's energy sector restructuring, Fahmy's ministry oversees three holding companies: Egypt General Petroleum Corporation (EGPC), which is solely in charge of oil; Egyptian Natural Gas (Egas), a new company, which has taken control of the country's gas sector from EGPC; and Egyptian Chemicals, establis