Mohamed Radwan, Ganoub El Wadi Petroleum Holding Company’s (Ganope) Vice Chairman for Agreements and Exploration and Egypt Upstream Gateway’s (EUG) Project Manager at the Ministry of Petroleum, revealed that the gateway, now comprising 47 member companies, has attracted investments worth over $1.2 billion for the purpose of drilling 127 wells in 51 areas since its launch in February 2021. The figures were mentioned in his review of the gateway’s achievements, in partnership with the international company Schlumberger, in a meeting with MoMPR Minister Karim Badawi. He also reviewed the team’s efforts in supporting investors’ decisions

The progress of EUG was the focus of the meeting as the attendees looked into further efforts needed to attract more investments to boost production, in line with the gateway’s role as the ministry’s investment platform.

During the meeting, Badawi emphasized the pivotal role of EUG. He highlighted its function as a digital platform for showcasing investment opportunities and data, and for leveraging the latest technologies and technical support to speed up investment decision-making for exploration and production investors. The minister also instructed that the investment map be continuously updated with new opportunities.

Also present at the meeting was Samir Raslan, Undersecretary of the Ministry for Agreements and Exploration.