Minister of Petroleum and Mineral Resources Tarek El Molla received a delegation from Canada’s Mediterra Energy Corporation headed by the company’s Chairman in which they explored ways to enhance cooperation in the field of oil and gas exploration and production (E&P) in addition to reviewing the company’s practices in its concession areas at Kom Ombo and Sinai in Egypt.
During the meeting, El Molla stressed that the Canadian company is an important partner for the sector through its exciting operational results achieved in Egypt, especially the drilling rates of wells in its concession areas in partnership with the Egyptian General Petroleum Corporation (EGPC) and South Valley Egyptian Petroleum Holding Company (GANOPE) which reflects the company’s desire and commitment to work in Egypt.
The Minister noted that the petroleum sector is currently intensifying exploration operations to achieve more discoveries and increase production seeking to secure consumption requirements and fill the gap in the local needs for oil and petroleum products.
The delegation of the Canadian company provided a summary of the company’s business in Egypt, where it operates in Kom Ombo concession areas (Al-Baraka and West Al-Baraka) in partnership with GANOPE in addition to Sidr, Matarma, and Asal in Sinai in partnership with the General Petroleum Company (GPC).
They said that the company achieved records in well drilling operations during the past years amounting to 6-7 wells per month. Also, they expressed their pride in what they have achieved in their concession areas and their serious desire to expand the company’s business portfolio in Egypt.