CAIRO: The Egyptian Ministry of Petroleum today unveiled a new plan to encourage investment in petroleum projects in the coming five years, reported Undersecretary Mahmoud Nazeem. The plan hopes to garner billions of new dollars. The Ministry hopes to encourage Egyptian investors to benefit from all the available investments via public auctions. These auctions will take place in the coming phase and will include both oil and natural gas projects, Nazeem added. The State hopes to increase the reserves of oil and gas. The Ministry also hopes to attract Arab and foreign investors to realize the petroleum wealth in the Egyptian land and territorial waters, Nazeem said.