Minister of Petroleum and Mineral Resources Karim Badawi has held a meeting with a delegation from VAALCO Energy company including Thor Pruckl, the Chief Operating Officer, and Iman Hill, the company’s Country Manager of Egypt in addition to Tawfiq Nassif, Executive Vice President of Government Relations, discussing VAALCO’s activities and business plan to increase production in Egypt.

Badawi highlighted the petroleum sector’s commitment to maintaining constant communication with international companies operating in Egypt. He emphasized the importance of supporting these companies while working to attract new investments and intensifying research, exploration, and development programs. The goal is to improve operational efficiency and reduce the cost of producing a barrel of oil through the use of the latest technologies.

Pruckl emphasized the importance of Egypt as a promising region for expanding VAALCO’s activities in its concession areas in the Eastern and Western Desert, particularly following its acquisition of the assets of Canadian TransGlobe Company.

He noted that production from brownfields presents a significant opportunity for the company to expand its investments in the near future.