Minister of Petroleum and Mineral Resources Tarek El Molla met with Abeng Yusof, Vice President of Malaysia’s Petronas LNG, and his accompanying delegation to discuss the company’s activities in partnership with Shell to develop the tenth phase of the deep-water West Delta fields in the Mediterranean Sea and produce from them. They also discussed preparations to start work on the eleventh phase of the project, in addition to discussing efforts to reduce emissions and maximize the utilization of natural resources.
During the meeting, El Molla affirmed that Decarbonization Day during COP 27 summit has paved the way for joint work on the serious and effective implementation of emissions reduction efforts currently being executed by the oil and gas sectors and emissions-intensive industries around the world.
He noted that the added- value industries based on natural gas is the optimum utilization of natural gas as a natural resource can provide hard currency.
El Molla added that Egypt owns excess capacities at the Idku and Damietta LNG plants and can meet the demand of the East Mediterranean countries. He noted that the country is currently working with its partners to increase production through implementing intensive drilling programs during the coming period to continue to meet the needs of the local market and provide a surplus for exportation and the added-value industries.
For his part, Abang Yusuf stated that his country is working hard to expand the business of renewable energy and green ammonia production, adding that it directs its production of natural gas towards exportation and added-value industries.
He also said that the coming year will witness the launch of production at the 10th phase of West Delta Deep Fields. He noted that his company is seeking to achieve more discoveries and increase the reserves and production from Egypt and the other countries where it is working.