Minister of Petroleum and Mineral Resources Karim Badawi has met with Dimitrios Copelouzos, Chairman of the Greek Copelouzos Group, and Ioannis Karydas, CEO of the Group for Renewable Energy, Energy Storage and Interconnection.

The meeting focused on potential areas of cooperation and investment opportunities in the petroleum sector, as well as ways to collaborate in various fields related to natural gas and infrastructure.

During the meeting, Badawi emphasized that the oil and gas sector is currently undertaking an intensive research and exploration program aimed at making new discoveries. These efforts are intended to boost production and reserves, while simultaneously developing existing discoveries to meet local market demands and reduce reliance on imports.

Badawi pointed out the importance of cooperation and partnership with international companies to participate and invest in petroleum projects, which will benefit everyone.

Moreover, Badawi added that Egypt has a strong infrastructure and distinguished capabilities that qualify it to strengthen its position in the region as a regional energy center, highlighting that work is underway to highlight the investment opportunities available in the petroleum sector to serve the goals of securing and diversifying energy resources.

For his part, Copelouzos stated that Egypt can create a bright future in the field of natural gas by exploiting the strong infrastructure it possesses, especially gas liquefaction plants.

Copelouzos pointed out the group’s intention to participate in any new bids offered by Egypt during the coming period, adding that the electrical interconnection project between Egypt and the European Union is one of the most important projects currently being implemented in Europe.