On the sidelines of CERAWeek, Minister of Petroleum and Mineral Resources Tarek El Molla met with George Maxwell, CEO of VAALCO Energy, which started investing in research and exploration activities for oil and gas in Egypt in a number of concession areas in the Eastern and Western Desert regions, the ministry said in a statement.

The company started in the Egyptian concessions after the merger of the Canadian company TransGlobe with the American company, the meeting dealt with the situation of research and exploration activities in the company’s concession areas.

VAALCO Energy, which owns a diversified investment portfolio in Canada, Egypt, Equatorial Guinea and Gabon, has also expressed interest in increasing its investments in Egypt during the coming period.

For his part, the minister welcomed the strengthening of aspects of cooperation with the company during the coming period in order to increase its investments and advance its work plans in its concession areas.