Egypt Oil & Gas learned that Tarek El Molla, Minister of Petroleum and Mineral Resources, held extensive talks with Jean-Bernard, CEO of France’s EDF, parent company of Italy’s Edison. EDF was part of the delegation accompanying French Prime Minister during his visit to Egypt. The talks were also attended by Edison CEO Bruno Lescoeur.
The minister pointed out that the talks included promoting bilateral relations, discussing investment opportunities, and the future of the company’s E&P operations in Egypt.
Edison had signed a number of agreements with EGAS over the past two years, for exploration in the Mediterranean, the Western Desert, and the Gulf of Suez. The latest was in the No. 12 northeast Hapy offshore concession in the Mediterranean Sea.
El Molla addressed the progress made by Edison’s new Abu Qir project, with investments of $220m for the production of more than 150 mcf of gas, 4,000 barrels of condensate and 1,500 oil b/d. A new offshore platform is currently being installed North of Abu Qir-3 encompassing 9 wells to be linked to new production facilities, he said.
For his part, Edison’s CEO highlighted his company’s continued investments in accordance with its planned schedule. He added the company’s growing participation in the international bids put forth by Egypt’s petroleum sector underscores confidence in the attractiveness of investment opportunities in the sector. He stressed that the company seeks to be one of the most important international companies operating in Egypt.