Minister of Petroleum and Mineral Resources Tarek El Molla has met with James Robert Maguire, Managing Director and Partner at The Carlyle Group; Mathios Rigas, CEO of Energean; and Parminder Singh, Managing Director-International Energy at The Carlyle Group.

The meeting tackled The Carlyle Group’s acquisition of Energean’s assets in Egypt, Italy and Croatia, as part of the group’s drive to expand oil, gas and energy activities in general, especially in the Mediterranean region.

During the meeting, El Molla welcomed the company’s desire to work in Egypt and the region by establishing a subsidiary company specialized in exploration and production operations in the Mediterranean region.

El Molla highlighted that the entry of new oil companies to work in the Egyptian oil and gas sector indicates the attractiveness of the investment opportunities available in the field of oil and gas in Egypt.

The minister expressed his aspiration to achieve more successes with The Carlyle Group, similar to the effective contributions made by Energean.

El Molla further pointed out the importance of intensifying research and exploration operations, implementing work plans within specified timetables, and making new discoveries to support reserves and increase production.

For his part, Maguire stated that The Carlyle Group seeks to build a bright future and pump large investments in the field of oil and gas in Egypt, which enjoys attractive investment opportunities and a flexible business environment that allows achieving great successes.

Maguire explained that the company intends to provide advanced technologies that enable research and exploration operations at great depths that were not possible before.

Moreover, Maguire pointed out that The Carlyle Group is working on preparing strategic action plans to expand activity in the Mediterranean region and contribute to increasing oil and gas production in Egypt.

It is noteworthy that The Carlyle Group works in the field of corporate equity, global credit, infrastructure and natural resources. It owns a large global energy platform that invests in developing new energy pathways and has a proven track record of supporting oil and gas companies in implementing decarbonization strategies.