Minister of Petroleum and Mineral Resources Tarek El Molla and Chairman of IPR Mahmoud Dabbous held a meeting to discuss the company’s results and latest projects on the sidelines of EGYPES 2024.

Dabbous also announced that his company plans to invest $110 million in drilling new wells at al Alamein and Fayoum after achieving excellent results.

The Chairman also reviewed the excellent results achieved in Alamein field, zero-emissions projects and using natural gas instead of diesel and mazut in producing electricity which will contribute to reducing costs and improve production. He stressed on the company’s commitment to increase its investments in Egypt in the resources and technologies in addition to continue production especially from Alamein.

For his part, El Molla said that what has been achieved represents a pushing force towards achieving the maximum benefit from the concession areas, encouraging companies to work in new geological layers, supporting companies, and dissolving obstacles that may arise in the way of production.