Tuesday , July 27 2021

Minister of Petroleum discusses cooperation with the Saudi counterpart and heads of international companies

Minister of Petroleum and Mineral Resources Tariq Al-Mulla held several meetings and discussions on the sidelines of the Abu Dhabi International Petroleum Conference (ADIPEC 2018) with the Saudi Minister of Energy, Industry and Mineral Resources Khalid Al-Faleh and the leaders of a number of companies International oil companies that participated in the conference.

Al-Mulla discussed with its Saudi counterpart a series of issues of common concern regarding the evolution of oil markets and oil prices, as emphasized in continuing to support efforts and cooperation initiatives between OPEC and non-OPEC countries to stabilize the markets and the balance between supply and demand,.

Al Mulla said the meeting also discussed the improvement of cooperation between the two countries in various fields of the oil and gas industry, emphasizing the importance of working in the transfer and exchange of information and technical expertise in research, exploration and mining activities, Especially since Egypt is ready to launch the first petition for exploration of oil and gas in the Red Sea region.

He added that Egypt attaches importance to the cooperation with Saudi Arabia in the field of mining, that Egypt is currently working on the development of strategies to work to attract more investments and expand the exploitation and manufacture of mineral wealth, noting that it has argued with its Saudi counterpart agreements to Perform the XV Arabian Conference on Mineral Resources, at the end of this month.

The two ministers examined the fields of cooperation between the two countries in the field of oil, especially the Sumid project for the transfer and circulation of crude oil in the areas of Sokhna and Sidi Kerir, which is currently being expanded to increase capacity for reception, storage and the circulation of petroleum products under the plan to transform Egypt into a regional center of trade and energy trade.

Mulla also met with the State Ministers and Deputy CEO of the Abu Dhabi National Petroleum Company ADNOC. The meeting discussed the promising investment opportunities in the Egyptian oil and gas industry in view of the interest on the side of the UAE in Egypt as an important investment destination in this area.

The two sides emphasized the importance of exchanging experiences in various fields of the oil industry as one of the most important factors contributing to strengthening Egyptian-UAE cooperation and benefiting from the knowledge and technologies available for both sides.

On the other hand, Al Mulla held a series of bilateral meetings with the leaders of a number of international oil companies that participated in ADIPEC 2018 in Abu Dhabi, where he discussed with Bob Dadley, CEO of the British BP Group and Hisham Makkawi, regional president of the North African group. The project for development and production of natural gas from the fields of northern Alexandria and the Western Mediterranean and Aljari accelerates the implementation of the second phase of it, in preparation for the launch of the first gas production from this phase during the next month of the Giza-Fayoum field.

The oil minister discussed with engineer Sami Iskandar, the executive vice president of Shell International and Eng. Jasser Hanatr, the president of Shell Egypt, the company's work programs in the deepwater area of ​​the Mediterranean Sea and Western Sahara and reviewed the executive position of the phase 9 B project for the development and production of natural gas in the Delta region of the West. The new gas wells in the project respectively in the production.

Shell's new exploration and exploration programs in Western Sahara were also revised and Shell's global leadership confirmed the company's interest in entering new exploration and exploration projects for the first time in the Red Sea in the next period, taking into account the trend of the oil sector to start operations in the region.

During the meeting with the president of the Italian company Addison and the delegation that accompanied him, Al Mulla discussed the situation in the deepwater areas of Egypt in the Mediterranean Sea for research and exploration of natural gas.

During the meeting with Fagit Alekperov, head of the Russian Lukoil, one of the leading international oil companies, the company plans to start a new stage in the development of the natural gas field in Western Sahara in the near future. He expressed his hope of increasing the Russian company's investments in Egypt and expanding its activities. For the exploration, exploitation and production of oil and gas, the president of the company expressed his willingness to open new areas of cooperation with the oil sector in the field of the formation of Egyptian oil paintings in the company's training centers.

The Minister of Petroleum held a meeting with several Schlumberger leaders in the United States. Eng. Mohamed El-Toukhy, responsible for exploration activities of the company, and Karim Badawi, CEO of the company in Egypt and the Eastern Mediterranean region, reviewed seismic research projects and data collection in the Red Sea and the Suez Gulf regions, New international investment in these areas, especially that the use of advanced technologies in the implementation of these projects achieves the desired objective with the greatest possible efficiency.

The authorities of Schlumberger underlined their willingness to strengthen the association with the oil sector and increase their business in Egypt based on the success of their recent projects and the continued growth of investment opportunities.

Mullah also discussed with Matthias Hillman, CEO of Digital Solutions, Baker Hughes, General Electric and the delegation that accompanies the cooperation between the two sides in the implementation of Egypt's electronic portal project for the commercialization of oil fields and exploration as a digital investment map to promote the promising areas that are developed within the framework of initiatives to develop and modernize the Egyptian oil sector to develop Oil uses technology and expansion in the use of digital solutions and discusses possible opportunities for cooperation between the two sides in new oil projects.

At a joint meeting with Joe Rennie, CEO of Halliburton and the accompanying delegation, Mulla examined with the president of the US company his current activities in Egypt, emphasizing the importance of cooperation between the two sides to apply the latest technologies in the field of crude oil extraction . The light of the increase in oil activity and the expansion of the oil sector in exploration and field development projects.

Mule argued with a delegation of officials from the Dragon Oil Company, headed by Mr. Ali Al Jarwan, CEO of the company, opportunities available for investment in Egypt, especially with the expansion of new exploration and exploration areas for oil and gas, especially in the Red Sea region in the near future. Promising areas with promising opportunities for oil investment, which have a great interest in taking full advantage of the successes achieved in recent years.

The minister discussed with David Phillips, president of the American Chamber of Commerce, the role of the camera in supporting the Egyptian oil and gas industry by helping to attract US investors to Egypt and present investment opportunities available to them.

Al-Mulla said after the talks that he invited the ministers and heads of international companies to participate in the International Exhibition and Exhibition of Petroleum (EGPS 2019) at its third session in February.

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