The Petroleum Sector’s joint ventures held meetings concerning their investment budgets in exploration and development of  the discovered fields,  for the year 2012/2013, in the presence of Eng. Abdullah Ghorab , Minister of Petroleum and Mineral Resources . The budgets indicated the increase in total investments of foreign companies operating in Egypt to reach about $ 8.6 billion, i.e. 5%  increase over 2011/2012 budget, despite the events that took place in Egypt , since the 25th of January revolution, in addition to the economic crises witnessed by the global financing markets . This represents a strong message, that Egypt will continue as a stable State , the strength of economic ties with foreign companies operating in Egypt , as well as the confidence of foreign partners that the Petroleum Sector still represents promising opportunities for investment and high feasibility, in light of good oil potentials Egypt enjoys.
There is no doubt that the increase and the continuous pumping of investments by foreign companies, reflected positively on the intensification of exploration activities and rapid development of  the discovered fields, thus contributing to bolstering and increasing Egypt's oil and gas production and reserves to ensure the needs of the country from various energy sources and to bolster the economic development plans. Moreover, the Petroleum Sector’s continuous  attraction and increase in foreign investments within the current local, regional and global conditions represent a major challenge, which affirms its commitment to all its contracts and the credibility in dealing with foreign partners. On top of the list of major foreign companies operating in Egypt, which announced increasing their investment in exploration and development domains are: the English Companies British Gas ( BG ) and British Petroleum (BP), the American Apache, the Italian Eni, the Dutch Shell, the German RWE, the Italian Edison and the Malaysian Petronas. Their investments represent more than 60% of total investments of foreign companies operating in Egypt in the year 2012/2013.
No doubt that the great interest of mega international companies  in pumping new investments in  exploration and development  domains, within the scarcity of the foreign investment and competitiveness of the neighboring areas to Egypt,  represents a clear message of the foreign companies’ confidence in improving the investment climate in Egypt during the coming period.