Minister of Petroleum and Mineral Wealth Tarek El-Molla -REUTERS
CAIRO - 9 January 2018: Petroleum Minister Tarek el Molla said the Western Desert produces about 60 percent of Egypt's crude oil.
He made the remarks in a statement on Wednesday while chairing a general assembly meeting of Agiba Petroleum Company to review its 2019-2020 fiscal year budget plan.
He urged foreign companies to invest in the Western Desert as he expects more discoveries to be unearthed in this area, citing the recent findings in the Western Desert.
Agiba Petroleum Company Chairman Essam Qaffas said the company plans to produce about 46,000 barrels of crude oil and 19 million cubic feet of natural gas on daily basis in the coming fiscal year.