Petroleum is discussing with Edison Chairman the increase of the company’s investments in Egypt

Minister of Petroleum and Mineral Resources Tariq Al-Mulla discussed with the President of the Italian Edison Group, Mark Benayoun, the company’s current activities in Egypt in the field of oil and gas exploration and development of fields especially in the Mediterranean Sea.

The meeting was held on the margins of the sidelines of the 9th International Conference of the Mediterranean Basin Countries, held alternately between the cities of Alexandria and Ravenna since 2000, in the presence of Marcio Cortella, CEO of the Group, Nicholas Kasharov, General Manager of Edison Egypt, (EGAS) and geologist Ashraf Faraj, Undersecretary of the Ministry of Petroleum for Agreements and Exploration.

The Minister reviewed with the officials of the Italian company the program of work to develop the new wells on production and increase the gas production rates of Abuqir field in the Mediterranean Sea and the new project to produce electricity from the produced gas and the future opportunities for the development of new gas reserves in this region. Research and exploration of natural gas in the areas of concession of deep water in the Mediterranean Sea in view of the high potential of these areas, plans to increase production as well as pumping investments in the Nile Delta, Western Sahara and Gulf of Suez, Petroleum Sector The commitment of the petroleum sector to the strategy of working with foreign partners in Egypt based on the credibility and full commitment to the partners and achieve balance and create a climate conducive to investment for mutual benefit.

The head of the Italian Edison Group said that his company is intensifying its activities in Egypt in the promising areas and is looking forward to increase its production of petroleum wealth, especially natural gas, in view of the ongoing works in a number of deep water areas in the Mediterranean Sea, which have great opportunities to discover gas and add new reserves. To support the partnership with the Egyptian petroleum sector in light of the promising opportunities and competitive advantages and policies to support the investment climate in Egypt in general and the petroleum industry in particular, praising the clear vision of the government to turn Egypt into a regional center for energy trading and trade.

It is worth noting that the Minister of Petroleum is currently heading a high level delegation of petroleum in the activities of the 9th International Conference of Mediterranean Countries (OMC) Bravina, which is a good opportunity to conduct scientific and practical discussions that enrich the petroleum industry and open wide horizons to learn about the modern technologies used in industry. Especially in the exploration, exploration and production of deep water for all interested in the petroleum industry, especially investors, and is a good opportunity to introduce investment opportunities in the oil sector under the strategy of Egypt in the transformation of a regional center for energy as well as strengthen cooperation B Mediterranean countries participating in the conference. During the conference, a number of important issues related to the natural gas industry in the Mediterranean region will be discussed, as well as an opportunity to learn about new technologies and to discuss how to face future challenges.