The investment threats come as the country’s oil ministry this week touted the award of nine oil and gas exploration contracts with a combined investment of at least $470m.

The deals show that Egypt is “still able to attract petroleum investments,” oil minister Sharif Ismail says. Royal Dutch Shell is amongst the contract winners, who have committed to drill a combined 15 wells in the Gulf of Suez, the Sinai and the Eastern and Western Desert. (CONTINUED - 1101 WORDS)