The ministry attributed the decline in the value of exports from July to Sept. to the global decline in prices, despite the 2.1 increase in quantities exported.
The volume of production of the liquefaction plant in Edco is expected to reach 100 percent in the coming period, the sources said.
Molla clarified that the sector achieved the largest contribution to GDP by about 25 percent, in addition to its contribution of 44 percent in foreign direct investment.
The source pointed out that this will be reflected on the growing oil activity and projects implemented.
The strategy aims to enhance the sector's role in the overall development process, maximize the benefits of the natural resources and assets and increase the proceeds.
The source clarified that $3.2 billion was invested in operations to explore oil and gas, in addition to developing fields, adding that the operating cost reached $1.6 billion.
Procedures of 10 new agreements were completed during July and August 2018.
The contract will provide investors with incentives to explore for fossil fuels in undeveloped areas.
Egypt could outline and implement a well-designed economic reform program with strong public support, said a proud Molla.
Natural gas investments represent 91 percent of petroleum investments which amount to LE 132.8 billion.
President Abdel Fattah El Sisi issued directives on Saturday to persist with the efforts meant to upgrade the electricity and petroleum sectors.
Minister of Petroleum Tarek El-Molla stressed it is important to rapidly implement this strategy to support economic growth.