“Egypt’s oil and gas sector is full of many promising investment opportunities, which is one of the most important factors for attracting international companies,” said the Egyptian Minister of Petroleum, Eng. Sameh Fahmy.
That came during the minister’s meeting with chief executive of BG Group, Frank Chapman, and Dr. Samy Iskander, Executive Vice President and Managing Director of Africa, Middle East and Asia Region.
During the meeting, both parties reviewed BG’s operations in Egypt and its future prospects in the light of the successful path of the company, especially in the field of exploration and production of natural gas. Fahmy said that the ministry’s strategy aims to achieve strong relations with global companies to strengthen their activities in the area of research and exploration to maintain reserves and increase production.
BG became one of the biggest investors in the field of natural gas with investment estimated by more than $ 6 billion with its partners.
“Egypt is very important to us, and I would like to see more cooperation between my company and Egypt,” said Frank Chapman.
“Egypt witnessed huge progress in the gas industry in the recent years, and it pushed the economic growth as well as the improvement of infrastructure,” Dr. Samy Iskander praised the oil sector in Egypt.
Iskander added that his company, after given the confidence in the investments in Egypt, is going to have more operations in the Mediterranean region as its one of the most promising areas in the field of research and exploration for natural gas, according to confirmed reports from international institutions.