Minister of Petroleum and Mineral Resources Tarek El Molla has met with the CEO of AlKhorayef Group, Saad AlKhorayef to explore potential cooperation opportunities and enhance partnership in the petroleum industry.

El Molla affirmed that there are a lot of opportunities to optimize collaboration between petroleum sector and AlKhorayef Group as well as diversify mutual projects, especially with the need for more partnerships with the energy giants to increase production and developing capabilities during the current period.

Additionally, the minister praised the positive impact of the group’s investments in the Egyptian petroleum sector during the past few years through providing electrical submersible pumps (ESP) or the needed chemicals to improve production rates from petroleum wells.

During the meeting, the two parties agreed to study the possible cooperation on manufacturing ESPs cables locally with Al Sewedy Plant. They also discussed the available opportunities to cooperate on boosting brownfields production and how to benefit from Saudi Development Fund to finance the mutual projects.

The two sides also agreed to invite the Saudi Group to join a workshop at the Ras Ghareb in Gulf of Suez tackling the latest techniques to improve brownfields production. for his part, AlKhorayef said that his group has taken Egypt as its center to its business for launching its ESP products at the African markets and it is looking forward to expanding its business to achieve mutual benefits.