Minister of Petroleum and Mineral Resources Tariq Al-Mulla said that the State is interested in providing incentives to investors and aims to attract new companies to work in the sector. "He said during the meeting with Sean Bennett, deputy assistant secretary of Energy for Oil and Gas Affairs, Oil and gas and investment opportunities in the oil sector to US companies, on the sidelines of participating in the Abu Dhabi International Petroleum Conference (ADIPEC 2018)
Al-Mulla stressed the availability of the right environment to attract more US companies for investments in projects in the fields of oil, gas, petrochemicals and technology transfer in Egypt under political and economic stability and the existence of a clear strategy for the energy sector. Give an impulse to foreign investments in the petroleum sector, with the statement that the state has issued a law regulating the activities of the natural gas market and the new investment legislation, which opens new horizons for American companies to work in Egypt.
Mulla added that the oil sector is aiming to attract new US companies working for the first time in Egypt and encouraging companies that invest more and point to the ongoing efforts through the project to develop and modernize the oil sector in order to Investment climate in oil and gas exploration and exploration. New investment models in the petroleum agreements with foreign partners to motivate them to invest and to apply non-traditional methods and to promote investment opportunities in this area.
He assessed the activities of major American companies active in the Egyptian petroleum industry, especially Apache, Tariq Al Mulla praised the efforts of the American company and is one of Egypt's key partners in developing its oil and gas resources by means of exploration, exploration and production activities in its various concession areas.
The Minister of Petroleum said that the deep-water areas of the Mediterranean, Western Sahara and the Nile Delta offer promising prospects, which are attractive investment opportunities for large US companies. He added that the Red Sea region will enter the investment card to extract oil and gas. search in Egypt, with the aim of launching the first international bids in this region in the coming period.