The Minister of Petroleum and Mineral Resources, Tarek El Molla, has met Ian Steff, Assistant Secretary for Global Markets and Director General of the US and Foreign Commercial Service at the US Department of Commerce at the International Trade Administration, to discuss the exploration and production (E&P) activities and projects of US companies in Egypt, according to a press release.
During the meeting, El Molla affirmed that Egypt’s economic reforms and achieving self-sufficiency of natural gas helped attract more international oil companies (IOCs) to take part in the current E&P investments, fields development, as well as petrochemical projects.
The minister highlighted the vital role played by the East Mediterranean Gas Forum (EMGF) to enhance cooperation between member countries and maximize the value added of oil and gas potential in the East Mediterranean region.
Furthermore, El Molla pointed out the participation of US companies in modernizing the sector in Egypt by preparing talents to be the future leaders through providing practical programs in the headquarters of these companies in the US.
From his part, Steff stressed the commitment of the US to support the bilateral relation between Egypt and the US, as well as intensifying their partnerships to achieve mutual economic interests.