Schlumberger plans to increase its investments in Egypt in the upcoming period, Karim Badawi, Managing Director – Egypt and East Mediterranean at Schlumberger, told Ahram Gate.

Badawi pointed out the vital partnership with the Egyptian Ministry of Petroleum and Mineral Resources in the development of human resources in the sector and in digital transformation, as the company has the latest technology to increase oil exploration and production (E&P).

Additionally, Badawi noted that Schlumberger supports the Modernization Project of the oil and gas sector, stressing that the company is cooperating with the Ministry of Manpower and Immigration to develop the young cadres, as about 120 industry leaders were trained using the latest technologies.

Considering explorations in the Red Sea region, Badawi explained that Schlumberger will begin the second phase after awarding tenders to different companies, adding that the company is currently preparing for a comprehensive survey in the Gulf of Suez with the latest technology in the seismic field for new explorations.

Furthermore, Badawi clarified that Schlumberger helps increase oil production especially in the Western Desert and the Gulf of Suez, in addition to developing the existing fields using the latest technologies.

Badawi praised the successful Egyptian experience of turning into a regional energy hub. Moreover, Egypt possesses the human resources, infrastructure, as well as investments needed to have a major role in the East Mediterranean.