The Phoenix: Prospects of Egypt’s Oil and Gas Sector

... companies have more information about the geology of Egypt. Besides, Russian companies are generally not active abroad. Foreign projects are not and have never been a priority for Rosneft, Gazprom, or the previously independent Bashneft. The decision of Rosneft to enter Zohr project is not an exception, as the company is investing in the project on the production (not exploration) stage. With the decline in revenues and the necessity for companies to optimize their business, foreign investment is losing its momentum....