Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi on Wednesday said securing fuel required for operating power stations that provide electricity for households and companies nationwide will be a matter of top priority for the ministry.
Badawi, in TV statements after taking oath at ItIttihadiya Palace, said that the Petroleum Ministry will work on furthering oil and gas production as well as explorations.
He added that cutting-edge technologies will be introduced to develop filed explorations alongside seeking new fields in the Mediterranean, Western Desert and across the country.
He highlighted great significance attached by the Petroleum Ministry to cooperation with foreign companies in order to attract further investments to the oil and gas sector.
The minister said that due attention will paid to the human capital and its development.
A top priority will be also given to the mineral wealth which is importance for luring investments to Egypt and pumping a fresh industry, Badawi said.
The newly-appointed minister said that a great importance will be attached to the projects of petrochemicals and promoting the value-added of the aforementioned industries, in order to cut down need for the foreign currency.
He added that the ministry will seek opening markets for ammonia, exportation for Europe and reducing the carbon dioxide (CO2) emissions of the sector.
