Egypt has made changes, showing positive results that have prompted citizens to look forward to a better future and development in all fields, according to Minister of Petroleum and Mineral Resources, Tarek El Molla, who also praised the bold economic reforms –undertaken by the political leadership– which support the national economy, the ministry said in a statement.
El Molla’s speech was delivered by the head of the Egyptian General Petroleum Corporation (EGPC), Abed Ezz El Regal, during the Egypt-El Sisi and Establishing Modern State Conference, held by Dar Al Tahrir for Printing and Publishing.
According to the statement, the ministry pursued a working method aimed at achieving sustainability within the framework of the state’s comprehensive development program. Accordingly, it adopted new strategies that depended on continuous development and modernization, which gave strong impulses to the oil and gas sector to achieve unprecedented success stories over the past seven years.
Moreover, Ezz El Regal reviewed a number of the distinguished results that enabled the oil and gas sector to play its national role in increasing the production of petroleum and natural gas, expanding industries and related uses in the local market, returning to export, paying the dues of foreign partners and attracting major international oil companies (IOCs), such as ExxonMobil and Chevron, to invest in Egypt.
He further displayed on a map for the projects implemented by the petroleum ministry, which extend from El Alamein in the west to Sinai in the east, and from the Mediterranean in the north to Aswan in the south. These projects are covering the areas of research, exploration and production (E&P), development, refining, manufacturing, petrochemicals, and infrastructure for the transportation and circulation of oil, natural gas and petroleum products in the framework of the Egyptian strategy to be a regional oil and gas hub.