Minister of Petroleum and Mineral Resources Tarek El Molla met with the UK’s Ambassador in Egypt Gareth Bayley to discuss British business activities in the Egyptian oil and gas sector as well as the East Mediterranean Gas Forum’s (EMGF) efforts to enhance regional cooperation.

The meeting reviewed opportunities for British companies to invest in Egypt’s oil and gas industry.

El Molla highlighted the importance of continuing cooperation and integration between all parties in the industry, including countries or companies operating in the region under the umbrella of the Eastern Mediterranean Gas Forum. This is with the aim of achieving more gas discoveries.

The minister stated that major companies operating in the region have opportunities to achieve great success in light of this cooperation and the exploitation of the capabilities available to all parties. This will support the realization and development of discoveries.

Gas liquefaction projects represent one of the ideal solutions for safely trading liquefied gas and exploiting the remaining time in the energy transition phase to achieve the maximum possible benefit from gas resources, El Molla noted.

During the meeting, mining activities in Egypt were reviewed in light of the new mining law and its executive regulations, passing through the development of the financial system and licensing system, which contributes to enhancing investment opportunities and attracting more international companies.

For his part, Bayley highlighted the strength of the relations between the two countries, which resulted in achieving many joint successes in many fields, especially the field of oil and gas.