Minister of Petroleum and Mineral Resources Tarek El Molla has held a meeting with the COO of Wintershall Dea, Dawn Summers; Managing Director of Wintershall Dea Egypt, Sameh Sabry; and Undersecretary of the Ministry for Exploration and Supervisor of Agreements, Samir Raslan, to review the latest developments of the company’s investments in Egypt.
Minister of Petroleum and Mineral Resources Tarek El Molla has met with UAE Minister of Industry and Advanced Technology Sultan Ahmed Al-Jaber, who is also the President-Designate of COP28, to review bilateral coordination work in preparation for COP28 to be held in the UAE at the end of November.
On the sidelines of ADIPEC exhibition and conference 2023, the Minister of Petroleum and Mineral Resources, Tarek El Molla has met with the CEO of bp Company, Murray Auchincloss, who affirmed that the company’s investments and plans in Egypt will continue, noting that the company is aiming to expansion.
Minister of Petroleum and Mineral Resources Tarek El Molla has highlighted Egypt's key role in energy security and decarbonization, further emphasizing its plans to accelerate the development and production of natural gas from new discoveries.
During his participation in ADIPEC 2023, Claudio Descalzi, the CEO of Eni, expressed his happiness about Eni's winning of three important concession areas in the Egyptian bid round that was offered for oil and gas exploration and production operations in the Mediterranean.
The Minister of Petroleum and Mineral Resources,Tarek El Molla, said that Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) is continuing the global dialogue on the emission reduction especially after Egypt has put oil and gas industry as primary partner in implementing decarbonization solutions during COP 27 which hosted in Sharm El Sheikh by the end of 2022.
Eni has announced a new significant gas discovery from the Geng North-1 exploration well drilled in North Ganal PSC, in Indonesia.
Minister of Planning and Economic Development Hala El-Said stated that 40% of Egypt's projects are green and the state aims to boost this figure to 50% next year, El Ahram Newspaper reported.
Minister of Petroleum and Mineral Resources Tarek El Molla lauded the extraordinary accomplishments of Egypt's petroleum sector with investments amounting to $61.3 billion from July 2014 until July 2023.
The average production of natural gas during fiscal year (FY) 2022/23 reached about 6.2 billion cubic feet per day (bcf/d). Meanwhile, the average daily domestic consumption of natural gas was around 5.9 bcf/d, including 57% for the electricity sector, 25% for the industrial sector, 10% for the petroleum and gas derivatives sector, 6% for the residential sector, and 2% for supplying cars, the Egyptian Natural Gas Holding Company (EGAS), Magdy Galal, stated.
