(MENAFN) Egypt has accumulated debts of USD6 billion to foreign oil companies operating in the country, Saudi Gazette reported.
Egypt's Prime Minister said that a schedule to repay these debts is being set and agreement on this schedule is close.
Prime Minister Hazem El-Beblawi told a local news paper that an agreement to repay the debts would increase the companies' investments in the country to hit USD15 billion in the next two years.
"Reaching a settlement will lead to a rise in investment from foreign (oil) firms within two years to $15 billion," he said.
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