Minister of Petroleum and Mineral Resources Tarek El Molla emphasized the oil and gas industry’s commitment to sustainability and decarbonization, acknowledging the ongoing challenges in securing sustainable energy sources.
This came during his opening speech at the 9th Egypt Oil & Gas Convention, held under the theme ‘Driving Sustainable Growth in Egypt’s Oil and Gas Industry’, which is taking place from November 5th to November 7th, at the InterContinental Citystars Cairo Hotel.
Everyone sees the rapid development of the energy industry over the past years due to the challenges of corona and geopolitical events. Despite this, Egypt has achieved important success stories in record time in cooperation with partners, starting with the launch of the development and modernization vision in 2016 within the framework of the Sustainable Development Vision for Egypt 2030, El Molla noted.
The minister stated that the sector has adopted an ambitious program to implement this vision by linking the sector as one unit and changing work systems to support the goals of improving operations management and attracting investments, especially in the fields of research, exploration, refining and petrochemicals.
Digital transformation has been adopted as an essential element in the vision to achieve the principles of added value by reducing costs, increasing productivity, and improving the decision-making process, the minister said referring to the launch of the Egypt Exploration and Production Portal and the launch of various digital bids in several regions.
In closing, El Molla underscored the energy sector’s continued role as a significant catalyst for sustainable economic growth in Egypt.