In his meeting with Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla at COP27, TotalEnergies CEO Patrick Pouyanné stated that the company has ambitious plans to accelerate its implementation of projects and develop new natural gas discoveries amid current market conditions.
Pouyanné praised Egypt’s effective plans, timely achievements despite present challenges, and its ambitions to become a regional energy hub.
The meeting between the two parties included a review of the business situation and the company’s targeted investment plans during the coming period in the activities of research, exploration, and production of oil and gas in its concession areas in North Marina and Beshrush.
It also discussed the company’s activities in the field of production and marketing of mineral oils, as El-Molla clarified that TotalEnergies achieves good sales and considers Egypt an important center for the company’s exports of mineral oils.
TotalEnergies’ CEO also expressed his admiration for the pledges made at the summit’s Decarbonization Day sessions.
For his part, El Molla stated Decarbonization Day represents a breakthrough in climate summits, explaining that the ministry’s strategy is currently focusing on energy efficiency fields and seeks to generalize it in all petroleum activities.
The meeting was also attended by Jean-Philippe Torres, Director of the Africa Region for Marketing and Services, Thomas Strauss, General Director and Regional President, and Najdi Abed, Vice President for International Relations, in the presence of Dr. Magdy Galal, Chairman of the Egyptian Natural Gas Holding Company (EGAS) and Alaa Hagar, Undersecretary of the Ministry of Petroleum and Mineral Resources for Technical Office Affairs.