VOL. XXXVI

NO. 20

15-FEBRUARY-1993

EGYPT

Foreign Oil Companies Spend $1.2bn a Year in Egypt

According to Dr. Mustafa Sha'rawi, Chairman of the Egyptian General PetroleumCorporation the expenditure of foreign oil companies operating in Egypt hasaveraged about $1,185mn a year during the past three years, comprising $825mn ayear in capital investments and $360mn a year in operating expenses.