Minister of Petroleum and Mineral Resources Tarek El Molla met with Denis Rogachev, Senior Vice President for Overseas Oil, Gas Exploration & Production at Russian oil company Lukoil, and his accompanying delegation, the ministry said in a statement.

The meeting discussed the company’s projects in Egypt, especially in its concession areas in the Western Desert, and its plans during the coming period, in light of its strong interest in expanding its investments in Egypt.

El Molla highlighted the importance of supporting relations with the Russian company on a larger scale, noting that he met with the President of Lukoil at Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) last month. They agreed to arrange this meeting to discuss new investment opportunities for the company in Egypt, El Molla added.

The minister further pointed out the oil and gas sector’s readiness to expand horizons of cooperation in various fields of the petroleum industry. During the meeting, the development of the company’s current business in Egypt in its concession areas, Esh El Mallaha and Meleiha, was reviewed.

“Lukoil has been operating in Egypt for more than 20 years, with an investment volume of about 600 million dollars, and is currently working in the Esh El Mallaha area and also in the Meleiha area, in partnership with Eni in the Western Desert region,” Rogachev said.