Australia Invites Egypt to Participate in International Mining and Resources Conference (IMARC)

Australia Invites Egypt to Participate in International Mining and Resources Conference (IMARC)

With its growing reputation as an attractive mining destination, Egypt has been invited to participate in the International Mining and Resources Conference (IMARC) which will be held in October 2022 in Melbourne.

This came during a meeting between Minister of Petroleum and Mineral Resources Tarek El Molla and Australian Ambassador to Egypt Glenn Miles in which they discussed Egypt’s mining activities and the latest oil and gas markets’ situation in the light of the current challenges.

Regarding the oil and gas industry, the two sides examined the petroleum E&P operations in the Red Sea area in which BHP, being the first Australian company to operate in Egypt’s oil and gas industry, is working at the Chevron and Shell concessions.

El Molla highlighted that the current high prices of oil and gas encouraged international oil companies (IOCs) to intensify their exploration and production (E&P) activities to achieve more discoveries, especially after the recovery from the COVID-19 pandemic.

He added that Egypt now is exporting liquefied natural gas (LNG) cargoes from its Damietta and Idku plants after successfully achieving self-sufficiency in natural gas.

The meeting also discussed energy transition efforts, the significant role of natural gas as a transition fuel in the coming period and Egypt’s preparations for hosting COP 27.

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