$113 million in Canadian investments to prospect for oil, gas

Egyptian Minister of Petroleum Sameh Fahmi said there is a growing turnover by world oil companies to prospect for oil and natural gas as well as development of the discovered fields.

Fahmi was commenting on a visit by Canadian ambassador in Cairo Michel De Salaberry to the work locations of three Canadian companies currently working in the west of Gulf of Suez between Al-Zaafarana and Ras Ghareb.

He added that investments of those three companies were estimated at $113 million in the past three years.