The Minister of Petroleum and Mineral Resources, Tarek El Molla, gave a speech about the achievements and challenges of the ministry before the House of Representatives.
El Molla highlighted during his speech that the ministry aims to transform Egypt into a regional hub for oil and natural gas. He also added that the ministry is trying to attract huge investments in the Red Sea. In addition, he mentioned several agreements with international oil and gas companies (IOCs) including: ExxonMobil, Chevron, BP, Eni, and Shell.
Additionally, he highlighted the success of the new oil and gas exploration in 2020 in the Western and Eastern Deserts, as well as the Nile Delta and the Mediterranean Sea.
Finally, he added the achievements in gold exploration during 2020 and also explained that natural gas delivery to households reached 11.8 million units over more than 40 years, of which about 40% were delivered during the last five years.