Egypt, US Discuss Petroleum Sector Cooperation

Egypt, US Discuss Petroleum Sector Cooperation

Minister of Petroleum, Tarek El Molla, met Myron Brilliant, Executive Vice President and Head of International Affairs of the US Chamber, to discuss the US cooperation in the petroleum sector, Egypt Oil & Gas reports.

Brilliant praised the petroleum sector efforts’ outcomes throughout the last years as El-Molla ensured that the sector is full of investment opportunities that encourage international oil companies (IOCs) to increase their activities in Egypt.

The meeting focused on the sector’s outstanding performance in different aspects of petroleum production throughout the previous years, which led to increasing petroleum exports to the US by %44, reaching $176.9 million during 2019, compared to 2018 when it was $122.9 million, according to Al-Ahram.

The minister also reviewed the HR Management Pillar Development Program that prepares future young leaders to join the petroleum sector. He also represented establishing the New Gas Regulatory Authority as a major factor in turning Egypt to a regional energy hub.

Brilliant added that Egypt is becoming a regional petroleum hub as US companies will continuously cooperate in expanding the petroleum and gas exploration and production (E&P) activities in Egypt.



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