Head of the UAE-based Mubadala, Musabbeh Al Kaabi said Egypt has become a hub for foreign investments in the field of oil and natural gas sector, adding that the UAE is seeking to enhance cooperation with Egypt by extending the rate of Emirati investments here. According to Al-Ahram.

Al Kaabi statements came on the sidelines of the World Energy Congress held in Abu Dhabi where he met Egyptian petroleum officials.

Al Kaabi expressed his interest in working with Egyptian companies in the field of transporting and distributing oil products in light of the Mubadala’s desire to diversify its investments in Egypt.

Speaking about encouraging and facilitating Arab investments in Egyptian oil and natural gas, the ministry of petroleum confirmed that the government is clearing all hurdles that might hinder investment opportunities, which will be mutually fruitful.