The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, witnessed the signing of a cooperation agreement between the ministry and Baker Hughes GE to launch an electronic portal for online marketing of exploration and production (E&P) concession areas, Egypt Oil & Gas reports.
The contract was signed by the Ministry’s First Undersecretary for Agreements and Discoveries, Ashraf Farag, and Baker Hughes’ Vice President for Egypt and South Gulf, Ayman Khattab, on the sidelines of Egypt Petroleum Show (EGYPS 2018).
The agreement secures the digital infrastructure and electronic applications suitable for the project, as well as the preparation of a digital investment map for concession areas in Egypt, which will enable E&P marketing.
The digital portal will promote concession areas and attract international oil companies’ (IOCs) investments.
“The project comes in line with the ministry’s Modernization Program, which is being implemented,” El Molla said, adding that “the project aims to develop mechanisms in marketing E&P areas through an international information network.”