President meets with CEO of BG Group
Egyps President Abdul Fattah al-Sisi has said his country is committed to paying its debts to international oil companies (IOCs).
Speaking in a meeting with the CEO of the UKs BG Group, Helge Lund, Al-Sisi said Egypt had paid off debt to IOCs worth a total of $3bn over the past two years.
Recently, Egypts Petroleum Minister Sherif Ismail said the country is aiming to reduce its debt to foreign oil companies to $2.9bn by the end of August, and completely pay off its debts by the end of 2016.
Currently, Egypts debt to IOCs stands at about $3.5bn.
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