El-Molla meets heads of global oil firms on investments in Egypt

By Noha Gad On Nov 9, 2016

Egyptian Oil Minister Tarek El-Molla held meetings Wednesday with heads of global oil and gas firms to discuss investment opportunities available in Egypt’s petroleum industry sector.

The meetings showcased investment opportunities in fields of exploration, drilling, petrochemicals, and refining projects, as well as means of boosting local production from petroleum resources.

El-Molla held these meetings on the sideline of inaugurating pavilions of Egypt-based Enppi and Petroleum Projects & Technical Consultations Co. (Petrojet) companies in Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2016.

The Minister met with chairmen of British BP plc, Royal Dutch Shell plc, and Italy’s Eni to discuss projects that are currently implemented in Egypt in fields of developing gas discoveries in Mediterranean Sea in addition to their exploration plans.

El-Molla also met with leaders and officials of Russia’s Gazprom and Luk Oil Overseas firms, UAE’s Dragon Oil and Mubadala Petroleum firms, Total Egypt, U.S. Weatherford International, and other firms to showcase current oil projects in Egypt and global bids issued by the state.

On other side, the minister clarified that Egypt owns a lot of prominent investment opportunities in gas and oil industry and distinguishable opportunities in mineral resources field.

About the participation of Enppi and Petrojet in ADIPEC 2016, the minister said it would enhance opportunities of both firms to get new businesses and enter new markets outside Egypt.

He added that the Egyptian firms enjoy technical expertise and remarkable human resources that enable them to expand in foreign markets, upgrade their competitiveness globally and regionally, as well as enhancing national economy.

ADIPEC 2016 takes place on 7-10 November 2016 at Abu Dhabi National Exhibition Centre (ADNEC), bringing together a global audience and provides a vital export opportunity for countries looking to do business with the World’s Oil and Gas companies.