The Minister of Petroleum and Mineral Resources, Tarek El Molla, discussed with the Deputy CEO of the Ukrainian company Naftogaz , Sergiy Pereloma, the available investment opportunities for oil and gas exploration and production (E&P), a press release issued by the official Facebook page of the cabinet reported.

During a meeting, the two parties showcased Naftogaz’s current E&P operation in the Western Desert and south Egypt and the ways for increasing cooperation during the upcoming period which come in the framework of the Ukrainian company’s desire to participate in the coming bid rounds for oil and gas E&P.

According to the press release, the Ukrainian side is looking forward to expanding the joint investment projects and developing the bilateral relation between the two parties in the oil and gas sector for achieving mutual economic benefits.

This came in line with the attractive investment climate in Egypt and the Egyptian government’s interest to motivate international oil companies (IOCs) to push more oil and gas investments in both offshore and onshore Egypt in light of the promising chances and excellent results achieved during the last period.

It is worth noting that Naftogaz is the foreign partner for PetroSenan Company in the Western Desert and is operating in the two concessions of Wadi Al Mahareeth and south Wadi Al Mahareeth.