The Egyptian Petroleum Minister Osama Kamal and CEO of Chinese Corporation Sinopec Star Petroleum Company Fu Chengyu discussed investment opportunities in the Egyptian oil and gas sector as a means of expanding mutual partnerships in the coming period. The company’s Egyptian subsidiary, Sino Tharwa, has enjoyed great success since its activities in Egypt began in November 2005.
The Minister pointed out that the meeting served as a mechanism to facilitate and encourage increased investment by international oil companies in the Egyptian oil and gas sector in an effort to meet long-term production and development goals.
Minister Kamal added that cooperation with Tanmia Petroleum Company was also discussed, inferring that the coming period will witness an intensification of drilling and exploration activities.
The CEO of Sinopec asserted his company’s willingness to increase investments in the Egyptian petroleum sector.