CAIRO – 21 September 2017: The Egyptian General Petroleum Corporation (EGPC) paid $6.2 billion to foreign companies in arrears during the fiscal year (FY) 2016/2017, which in turn prompted companies to accelerate their activities in the oil and gas fields, EGPC Chairman Abed Ezz el-Regal said Thursday.
He added that EGPC paid a total amount of $19.3 billion and LE 38 billion (in local currency) to the companies, during the same period, to buy oil and repay loans.
