Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, affirmed Egypt’s prospects for new investments and the development of the oil and gas sector on the occasion of Egypt Petroleum Show 2017 (EGYPS), reported Egypt Oil&Gas.

“We have invited strategic partners in the downstream and upstream and from service companies in order to attend the EGYPS 2017 Petroleum Show. These companies include ExxonMobil, Total, BP, Baker Hughes, Shell, Schlumberger, and MIDOR. We further invited CEOs and General Managers of companies and several ministries from different countries in the Gulf Area and the Middle East as well as from Europe.”

Speaking at the EGYPS 2017 press conference, the minister further added that the event meets the country’s strategic vision of the petroleum sector, which aims to achieve the economic optimum utilization of all Egypt’s potentials and natural resources and turn the country into a regional hub for oil and gas.

“EGYPS 2017 Petroleum Show will discuss the future vision that includes reaching natural gas self-sufficiency in two years and achieving the added value through petrochemical industry. The vision further includes turning Egypt into a regional energy hub on several levels; electricity, gas; and other energy resources. Egypt Petroleum Show will empower the Egyptian oil and gas sector to develop the organizational chart to suit the adapted plan until 2020/2021.”

El Molla pointed out that the event is important and unique to put Egypt in the sector’s spotlight, and provides the opportunity to exchange experience and ideas about the fast evolving petroleum industry.

“We hope for EGYPS 2017 Petroleum Show to play a vital role in the oil and gas industry in North Africa and the Mediterranean,” the minister added. He further confirmed that “EGYPS 2017 opening will be attended by the Egyptian President Abdel Fattah eL Sisi, and Prime Minister, Sherif Ismail, who will thus show their support to the event.”

Dmg events’ President, Global Energy Division, Christopher Hudson, who spoke at the press conference alongside with the minister, declared that EGYPS 2017 promotes the country’s image and contributes to the achievement of a good investment and environmental stability.

“[Exhibiting at EGYPS], 70% of these companies are international and reaffirm Egypt’s position as a global energy hub,” he added.

Hudson noted that the event “shows that Egypt is open to business.”

The event, which will take place on 14th – 16th February, is held under the high patronage of His Excellency Abdel Fatah El Sisi, President of Egypt, and organized by dmg events. It brings together a large number of oil & gas leaders of the Egyptian petroleum sector and international companies.