CAIRO – Egypt’s Petroleum and Mineral Resources Minister Tareq el Molla said that the petroleum sector is currently implementing an extensive drilling program, in cooperation with foreign companies operating in Egypt, to secure the country’s needs of petroleum products and export the surplus.
This came in statements on Friday during his meeting with President of the Eastern Hemisphere at Halliburton Co. Shannon Slocum and his accompanying delegation.
The intensive activity of the petroleum sector opens wide horizons for all types of companies, including service companies, supplies of equipment and others, since the Eastern Mediterranean region has become a model for integration and interdependence between neighboring countries in the field of natural gas under the umbrella of the East Mediterranean Gas Forum (EMGF), Molla said.
Slocum praised the giant facilities in the New Administrative Capital and the great efforts made by the petroleum sector to expand oil and gas exploration activities.
He said the operation of major international oil companies in Egypt and their keenness on working in the country proves the success of the Petroleum Ministry’s strategies in attracting foreign investments.
