Egypt has huge oil reserves in the Sinai Peninsula, Minister of Petroleum and Mineral Resources in Egypt Tarek al-Mulla announced. During the periodic meeting of the committee formed to develop and increase the current rates of crude oil production, which includes representatives of oil companies operating in Egypt, Mulla stressed the importance of finding innovative solutions and making the best use of the capabilities, resources and operations facilities available in the oil areas, including the Sinai region. The concession areas of oil companies still have areas of potential that require more cooperation between them, he stressed. The current rise in global oil prices provides a stron
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