Foreign companies operating in Egypt have emphasized its commitment to research and exploration plans as well as development in the discovered oil fields in the ratified investment budget of 2013/2014 with more than USD 8 billion, said Oil and Mineral Resources Minister Sherif Ismail.
In statements, Ismail added that foreign companies working in Egypt showed an understanding of the current critical circumstances in Egypt and expressed confidence in the Egyptian economy's ability to overcome such phase.
The minister also denied reports that the international companies operating in Egypt threatened to halt their production due to the delay in the Egyptian government dues to such companies.
Minister Ismail asserted that such rumors are totally contradicting the commitment showed by such countries in the investment budget that has already been approved.
The minister also said new international companies such as China's Sinopec showed interest in investment in Egypt.