During a panel discussion at the tenth Egypt Oil and Gas Convention (EOGC 2024), Moataz Atef, Undersecretary of the Ministry of Petroleum and Mineral Resources for the Technical Office and the Official spokesperson, confirmed the six fundamental pillars in the Ministry’s strategy announced by Minister Karim Badawi that aims to foster partnership and cooperation within Egypt’s oil and gas sector, with a primary focus on human resources, recognizing the sector’s wealth of talent and competencies.

This panel discussion, titled “Synergistic Success: Forging Collaborative Partnerships,” featured Dalia El Gabry, VP and Country Chair of Shell Egypt, alongside Atef, Wail Shaheen, Vice President of bp Egypt, and Gustavo Guisoflo, General Manager of ENAP Sipetrol Egypt.

Atef highlighted that the ministry launched the second phase of empowering young talent the previous day, selecting 16 young assistants to support the heads of the Egyptian General Petroleum Corporation  (EGPC) and other holding companies.

He elaborated on other strategic pillars, including the exploitation and development of oil and gas resources, revealing that the ministry has proposed 61 attractive investment opportunities in this domain.

He also underscored Egypt’s efforts to leverage its unique infrastructure in oil and natural gas, particularly in fostering regional cooperation with Cyprus to import Cypriot gas for re-export through Egyptian infrastructure or for local use in petrochemical industries.

This approach aims to enhance the added value to the Egyptian economy, as Egypt boasts a significant market with consuming industries, skilled human resources, and advanced capabilities for exporting liquefied natural gas to global markets, he noted.

Atef emphasized the ministry’s commitment to maintaining open communication channels with all partners and understanding their requirements for successful collaboration.

He said that the ministry recently released a policy paper aimed at stimulating investment in the oil and gas sector, outlining various flexible and diverse investment models available for international companies.

Concurrently, the ministry is working towards achieving sustainability and an optimal energy mix, through setting a target for renewable energy resources to reach 42% of the energy mix by 2030, he added.

El- Gabry reiterated that successful cooperation and partnership are key to achieving future energy successes in Egypt and the region. She stressed the need to deepen these partnerships to collectively address challenges while ensuring benefits for surrounding communities, operational efficiency, and energy management, all while adhering to safety, health, and environmental principles.

Meanwhile, Shaheen pointed out the significance of digital technologies in the oil and gas sector, particularly digital platforms and the use of artificial intelligence in seismic exploration processes which helps identify oil resources and enhance the recovery processes for gas and oil.

He emphasized the importance of cooperation among all parties to achieve shared goals, noting that BP has a long-standing partnership with Egypt that has yielded significant successes. He reaffirmed that Egypt possesses exceptional human resources in the energy sector and well-equipped to achieve further milestones.

Ghisolfo also highlighted that Egypt offers good opportunities for international companies that seriously engage with the Egyptian oil sector.

He pointed out the critical role that corporate social responsibility plays in enhancing the environments surrounding petroleum sites, particularly in education and awareness of safety and health issues.

He emphasized that developing a culture of safety and environmental protection is one of the key elements for success in the industry.

He pointed out that ENAP Sipetrol actively cooperates with several Egyptian universities to provide insights into labor market needs and to enhance the skills of engineers and accountants for a better future, stressing the importance of integration, cooperative efforts, and prompt decision-making to achieve success and benefit Egypt.