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Signed Petroleum Agreements with investments of $ 15 billion in 3 years


Minister of Petroleum and Mineral Resources, said that his ministry took place during the last 3 years, about 70 new agreement, to intensify research activities for oil and gas investments of $ 15 billion, according to a press release.

He said Tariq Al-Mulla, during a meeting with students Nasser Military Academy graduate, the petroleum sector strategy based on several axes in the forefront to increase production and reserves, Egypt's oil and gas, through the development of gas discoveries in the Mediterranean and Delta fields afternoon and North Alexandria and Atoll.

Egypt has made 4 discoveries of oil companies during 2015 to Italy's ENI, the South Valley Petroleum, and General Petroleum, BP, British Petroleum, according to official data of the Ministry of Petroleum.

The Italian company Eni has announced revealed "appeared" field in the August 30, 2015, with an estimated gas reserves of the field at about 30 trillion cubic feet of gas.

The minister continued: he planned to enter the first fruits of those fields starting from the second half of 2017, in addition to the completion of the production of Gull field according to the levels of production planned in the second quarter of next year, as part of the secure side of the country's reserves, and bridging the current gap plan between production and consumption, according to the statement.

Tariq Al-Mulla explained: it has been implementing a new expansion coefficient Egyptian refining investments of $ 8 billion; to increase domestic production of gasoline, diesel and LPG by 60% of the current production of plants to provide hard currency.

Egypt is suffering from a crisis in foreign currency, with the decline in Suez Canal revenues, tourism and remittances from Egyptians abroad, and reached Egypt's reserve of foreign exchange of $ 19.59 billion at the end of September 2016 levels of $ 36 billion before the January 25 revolution.

The stock exchange said on Wednesday, he said that the right to Heliopolis Housing coupon expires on 21 November in two installments.
The bourse said in a statement, that the first installment of 1.5 pounds per share, to be paid on 24 November, while the second installment is worth about 1.2 pounds per share, and distracted in the March 23, 2017.
The General Assembly of Heliopolis Housing and Development approved a cash dividend of a total value of 300.4 million pounds for the fiscal year 2015-2016.
According to an earlier statement, the company achieved annual profits during the 2015-2016 valued at 400.6 million pounds, compared with a profit of 204.7 million pounds during the 2014-2015 year.
The company's shares closed higher by 0.15% at a price of 58.51 pounds, by the end of Tuesday's session.

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