Egypt says US oil firms showing appetite for offshore projects

Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources. [Photo: Reuter]

ROME- Egypt sees increasing interest from US energy companies in developing its offshore oil and natural gas resources and expects them to participate in two bidding rounds due before year-end, Petroleum Minister Tarek El Molla said.

Egypt has emerged as an attractive destination for foreign energy firms following a string of major discoveries in recent years including the giant Zohr offshore field, which holds an estimated 30 trillion cubic feet of gas.