Minister of Petroleum and Mineral Resources Tarek El Molla held a meeting with the Malaysian Ambassador to Cairo Zamani bin Ismail to discuss opportunities for cooperation and joint investment in the oil and gas sector, according to the Ministry.
During the meeting, El Molla stressed that the partnership between Egypt and Malaysia in the natural gas sector is growing at a vibrant pace, as Petronas, the largest Malaysian company, has been investing in Egypt for more than 20 years.
Furthermore, they reviewed areas of cooperation and partnership between the petroleum sector and Petronas, which participate with Shell in the exploration activities for natural gas in the deep West Delta region, in addition to the Al-Fanar and Sidi Gaber regions in the Mediterranean.
Petronas also contributed to the gas liquefaction complex in Idku, as well as to the field of production and marketing of high-quality motor oils through Petronas Misr Lubricants Company, which was recently established as a joint Egyptian-Malaysian investment with Misr Petroleum Company.
El-Molla pointed to the promising investment opportunities in Egypt in the field of natural gas exploration and the new areas that the petroleum sector is offering in the eastern and western Mediterranean through international bid rounds.
For his part, the Malaysian ambassador said that his country seeks to continue its successes with Egypt in joint projects and develop that partnership to serve the interests of both sides. He expressed his appreciation for the efforts of the Egyptian government and the Ministry of Petroleum and Mineral Resources in developing cooperation mechanisms with companies operating in Egypt to push their investments forward.