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Over the last 20 years, more than 217 oil exploration agreements have been signed and multinational oil companies spent more than $27 billion in exploration companions. These activities let to the findings of about 18 crude oil fields and 16 natural gas fields. As a result of these findings, crude oil reserves as of September 2001 are estimated at 445 million m³ (2.8 billion barrel), and proven natural gas reserves are 1,600 km³ (55 trillion ft³) with a likely additional 1,800 km³ (65 trillion ft³). Texas-based Apache Oil Company is the largest American investor in Egypt, with a total investment of more than $1.6 billion since 1996.

Coptic Christianity became popular in the Roman and Byzantine periods, and Egypt was indeed one of the strongest early Christian communities. Today, Christians constitute about 10% of the population.

The word "mummy" is thought to be derived from the Arabic word mumiyah, which maens bitumen. Because of the the blackened skin of unwrapped mummies, bitumen was once thought to be used extensively in ancient Egyptian embalming procedures. Another possible source for the name is the Egyptian Coptic word mum, for wax of which the use in Egyptian embalming was in fact documented.

Partially independent from the UK in 1922, Egypt acquired full sovereignty following World War II. In 1952 a popularly-supported military coup d’état forced King Farouk I, a constitutional monarch, to abdicate in support of his son King Ahmed Fouad II. Finally the Egyptian Republic was declared on 18 June 1953 with Gen. Mohamed Naguib as the first President of the Republic.

Some famous Egyptians include: Gamal Abdel Nasser (former president), Boutros Boutros-Ghali (former Secretary General of the United Nations), Naguib Mahfouz (Nobel Prize-winning novelist), Umm Kulthum (singer), Omar Sharif (actor), Ahmed Zewail (Nobel Prize-winning chemist), Mohamed ElBaradei (Head of the International Atomic Energy Agency), Anwar Sadat (former president and winner of the Nobel Peace Prize),

Egypt is on good terms with Libya and Sudan, its African neighbours, although it has a land dispute with Sudan over the Hala'ib Triangle, a small area of land on the Egypt-Sudan border on the Red Sea coast. Sudan claims the area, although thge Egyptian military currently occupies it.

Export of petroleum and related products amounted to $2.6 billion in the year 2000. In late 2001, Egypt's benchmark "Suez Blend" was about $16.73 per barrel ($105/m³), the lowest price since 1999.