Oil, gas sector contributes 24 percent of Egypt�s gross domestic product

(MENAFN)A senior government minister stated that the oil and gas sector contributed 24 percent of Egypt�s gross domestic product (GDP) in last year and was one of the key sectors that supported the procedure of rebuilding the country�s economy in the wake of the economic challenges since 2011. The sector represented a significant role in the economic reforms the government had implemented, that helped to make an appealing environment for investors, stated Egyptian Petroleum Minister Tariq El-Molla. In Egypt, over 60 international oil and gas companies operate, including well-known names for example ExxonMobil and Chevron. Egypt inaugurated the EastMed Gas Forum in 2018 that was designed to support strategic discussion amid Eastern Mediterranean countries � whether they are producers or consumers � to accomplish optimal economic benefits and tackle common regional challenges.