The Egypt Upstream Gateway (EUG) team organized a technical workshop titled “Egypt Opens Its Doors to Investment Opportunities in the Field of Research and Exploration,” the Egyptian Natural Gas Holding Company (EGAS) reported.
The workshop aimed to market and promote current investment opportunities in the Mediterranean and the Nile Delta, in addition to highlighting the most important achievements and successes achieved by the project team during the past two years. The workshop was attended by representatives of major international companies working in the field of oil and gas exploration.
The organization of this workshop comes within the framework of the Ministry of Petroleum and Mineral Resources launching, last December, a new international bid to search for natural gas and crude oil in 12 regions in the Mediterranean and the Nile Delta, with six marine regions and the same on land, through the Egyptian Digital Exploration and Production Portal.
The workshop was initiated by Anastasia Poole, Director of Exploration Data at SLB, stressing that the Egyptian petroleum industry is now on the global map through the implementation of a well-defined strategy and that the cooperation between the petroleum sector and SLB since its inception is constructive cooperation and has a positive impact on the petroleum industry, especially in the field of digitization and advanced solutions, pointing out that the Egypt Exploration and Production Gateway project is a strong example of this successful partnership as it reflects the petroleum sector’s keeping pace with the uses of modern technology and global digital transformation in this industry.
For his part, Samir Raslan, Undersecretary of the Ministry of Petroleum for Agreements and Exploration, stated that the strategy of the petroleum and mineral resources sector is to maximize investments in the fields of research and exploration by providing opportunities to attract new international companies to work in Egypt, In addition to encouraging operating companies to increase their investments and expand their work areas, explaining the exploration activity of the various geological basins and the volume of production in Egypt.
In another presentation, Mohamed Radwan, Project Manager of the EUG at the Ministry of Petroleum, highlighted the importance of the project, which is the first of its kind in the Egyptian petroleum industry within the framework of the first program of the project to develop and modernize the petroleum sector, which represents a modern qualitative leap in the mechanisms of marketing petroleum investment opportunities through an integrated digital portal for the activity of research, exploration and production of oil and gas resources and the development of advanced mechanisms to help speed up and increase the attraction of foreign investments and support Egypt’s competitiveness in the fields of research and exploration.
In a related context, Samir ElKareish, Vice President of EGAS for Energy Transition and Sustainability, gave a presentation explaining the petroleum sector’s strategy for energy transition, explaining the effective role played by the oil and gas industry in this regard, as the petroleum sector has taken actual steps towards decarbonization, starting the energy transition process, and supporting the initiative to make natural gas a transitional fuel in the energy transition phase.