Minister of Petroleum and Mineral Resources Tarek El Molla has stressed the importance of meetings that discuss ways of developing and increasing crude oil production as well as their role in enhancing coordination between all relevant parties.

This came during his participation in the periodical meeting for the Committee of Developing and Increasing the Current Crude Production.

El Molla also emphasized the necessity of finding innovative solutions and optimizing the utilization of resources and facilities in the petroleum areas, especially in Sinai.

He added that the current surge in oil prices is an incentive for companies to increase and intensify explorations and production.

The minister listened to presentations about petroleum reserves which can be developed in Sinai and how to increase production there as well as the possible challenges and how they can be overcome. 

El Molla emphasized the necessity of accelerating the development of reserves in Sinai and being committed to reducing expenditures.