Egypt’s Petroleum Minister discusses Maridive’s expansion into oil production

Egypt’s Petroleum Minister Karim Badawy met on Tuesday with executives from Maridive, a company specialising in marine and petroleum services, to discuss the firm’s investment plan to expand operations and enter the oil production sector, the ministry said in a statement.

Maridive’s strategy aims to leverage its technical capabilities to boost efficiency and output from existing and mature oil fields, aligning with Egypt’s goal of raising domestic petroleum and gas production, the statement said.

Badawy said Egypt continues to offer investment opportunities for local and international companies through regular bid rounds and tenders via the Unified Gateway for Exploration (EUG). He added that the ministry would provide all necessary support to facilitate Maridive’s planned expansion.

Maridive CEO Mohamed Nadim said the company intends to scale up its activities in Egypt, particularly in production and integrated oilfield solutions, building on its experience in Egypt, the Gulf and North Africa. The firm’s expertise includes well development, subsea pipeline installation and platform construction, he added.