$1.5 billion Canadian investments in Egypt's oil sector

Canadian investments in Egypt oil projects is $1.5 billion, said Egypt's Minister of Petroleum Sameh Fahmy focused on oil and gas, petrochemicals and fertilizers.

A government report said "The minister said efforts were underway to attract more Canadian companies to invest in Egypt and to expand the activities of international companies currently operating in Egypt."

The report said "Egypt and Canada were also preparing to establish joint ventures to produce methanol and fertilizers."