Oil minister Tarek El Molla asserted the importance of the sector’s modernization program in transforming Egypt into an energy hub, Egypt Oil & Gas reports.
He added that structural reforms of the sector and improving decision-making support are the most two important steps of the ministry’s seven-pillar modernization strategy.
He made the remarks on August 8 while heading a meeting of the high committee for the petroleum sector modernization project. The meeting tackled the program’s recent developments and the challenges it faces.
He said the project aims to encourage investment in oil exploration and production, improving the oil refining industry, turning Egypt into an energy trade hub, and developing human resources.