Kuwait Energy Egypt and the Egyptian General Petroleum Corporation have signed a concession agreement to pump new investments in the developing and exploiting Borg Al Arab Area in the Western Desert.

The agreement was signed by CEO of EGPC, Alaa Al-Batal and President of Kuwait Energy Egypt, Kamel Al-Sawi, during Egypt Petroleum Show (EGYPS 2023) in the presence of the Minister of Petroleum and Mineral Resources, Tarek AL Molla and CEO of Kuwait Energy, Song Yu.

On this occasion, AL Sawi highlighted that “signing this agreement reflects Kuwait Energy Egypt’s commitment toward the development and explorations of the petroleum reserves in Egypt since inception of its operations which added value to the Egyptian economy guided by the Minister of Petroleum’s great vision to put the Egyptian oil and gas industry at the current international level”.

Kuwait Energy Egypt’s vision and strategy continues to be aligned with the Ministry of Petroleum and Mineral Resources’ modernization program with a focus on maximizing the value of Egypt’s natural resources and supporting a low carbon future.