ABU DHABI (Sputnik) — On the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), Molla told reporters:
"We plan to finish the 2015-2016 financial year with the volume of investment in the oil and gas sector amounting to $7 billion and $8 billion next year. We count on bringing in some $30 billion of investments over the three coming years."
Egypt plans to become a regional energy hub after becoming self-sufficient in gas by 2021, he added.
ADIPEC 2016, a leading global oil and gas event, is taking place on November 7-10 in the United Arab Emirates (UAE).
Underinvestment in the energy sector has become an issue over the past year as global oversupply and stagnating demand caused oil prices to plunge from $115 per barrel in June 2014 to less than $30 per barrel in January 2016, thus driving investors away.
