Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi discussed with Patrick Pouyanné, the Chairman of the Board and Chief Executive Officer at TotalEnergies, opportunities available for investment in the Egyptian petroleum sector and the company’s future investment plans in Egypt in the fields of research, exploration and production of natural gas, as well as ways to improve and increase gas production rates in the Bashrush gas field in the North El Hammad concession area in the Mediterranean, where the company operates as an contractor member.
According to a statement by the Ministry of Petroleum and Mineral Resources Saturday, at their meeting, held on the sidelines of the 19th summit of the Francophonie, which is taking place in Paris, France, on October 4-5, the two sides reviewed the company’s investments in the field of manufacturing and marketing mineral oils in the Egyptian market in the oil production plant in Alexandria in addition to TotalEnergies’ contribution to the natural gas liquefaction station in Idku.
Badawi noted ongoing efforts to stimulate investment in the petroleum sector and provide a favorable environment for pumping more investments by global companies, stressing that his ministry is keen on fostering relations with international partners.
He also discussed the new 2024 international tender announced by the Egyptian Natural Gas Holding Company (EGAS) to search for natural gas and crude oil in 12 sectors in the Mediterranean Sea and the Nile Delta and investment opportunities in the fields of research, exploration and field development offered through the Egypt Exploration and Production Portal.
For his part, the CEO of TotalEnergies praised the strategic partnership with the Egyptian petroleum sector, emphasizing the company’s interest in expanding activities in the field of energy in Egypt in light of the promising investment opportunities it offers and its strong infrastructure.
He also highlighted the partnership that TotalEnergies recently concluded with UAE’s ADNOC with the aim of expanding the production, distribution and export of lubricants and petroleum products in Egypt and the African continent and expressed interest in exploration activities in the Mediterranean region and in opportunities to support aviation fuel marketing and supply operations.
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