Egypt has huge oil reserves

 Egypt will remain a key player in the oil sector as there is a huge amount of oil reserves in the Gulf of Suez, Nile Delta and eastern the Mediterranean Sea, the Chief Executive Officer of Edison International said on Tuesday.

In statements on the fringe of the 8th Mediterranean Offshore Conference and Exhibition, Nicola Monti said Egypt occupies the 16th international position concerning natural gas reserves and the 15th position regarding the production.

He said Egypt is the second major natural gas producer in Africa and the number one African oil producer in the Organization of the Petroleum Exporting Countries (OPEC).