The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, joined Riccardo Puliti, Senior Director of Energy & Extractives at the Wold Bank (WB), and accompanying delegation to discuss oil and gas projects funded by the WB, Egypt Oil & Gas reports.
According to El Molla, achievements made in Egypt over the past few years to revive the investment climate and boost economic growth rates have attracted more investments, especially in the oil and gas sector, which is the main engine of the development process.
The Minister further pointed out that international institutions, especially the WB, are constantly supporting the positive developments of Egyptian economy in general, and the petroleum sector in particular, adding that the WB continuously communicates with the Ministry to view investment opportunities available in various activities of the sector.
Meanwhile, Puliti noted that the WB supports Egypt’s Modernization Program to develop the oil and gas sector. “The program is proceeding well towards completion, according to the scheduled timeframe,” he stated.