Cairo - Mubasher: The Egyptian minister of petroleum and mineral resources, Tarek El-Molla, said on Monday that Egypt has repaid $2.8 billion of outstanding debts to foreign companies in the last three years.

El-Molla added in an interview with the Oxford research centre that the government has reduced obligations to foreign partners from $6.3 billion to $3.5 billion by the end of 2016.

The minister also pointed to the recent natural gas discoveries in Egypt, with investments exceeding $30 billion.