Three Romanian companies intend to compete for the investment opportunities offered by the Ministry of Petroleum and Mineral Resources (MoPMR) for crude oil and natural gas exploration operations.

Ahmed El Sokkary, Chairman of the Egyptian-Romanian Business Council, told Al Borsa Newspaper that a number of Romanian companies have been in contact with the General Authority for Investment for months to implement projects in the gas sector, most notably the company “Deimos”.

El Sokkary added that the new companies will officially submit their applications to government authorities within the next few weeks.

Additionally, El Sokkary noted that the council succeeded in attracting many Romanian companies to the Egyptian market, including “CIS Gas”, which sought to take advantage of the incentives provided by Egypt in this sector, to transform into a regional hub for the trade and circulation of natural gas.