El Molla explained that the project is a model for partnership between the state and the private sector in establishing new industries to exploit mineral wealth with national investments, as an alternative to exporting this wealth in its raw form, which enhances the added value and return of this wealth to the Egyptian economy.
The Minister of Petroleum and Mineral Resources Tarek El Molla has received the Regional Director of the World Bank's (WB) Infrastructure Department in the Middle East and North Africa region, Paul Noumba where they discussed how to boost cooperation on natural gas, emissions reduction and natural gas fields.
The assignments of the Ministry of Petroleum and Mineral Resources have begun during the company's general assembly meeting to pump more investments to intensify research and exploration activities for natural resources and accelerate the development of new discoveries.
Foreign direct investments (FDIs) in the petroleum sector recorded a decline in net outflow by $277.9 million, to be $857.5 million during the first half of fiscal year (FY) 2022/23.
Minister of Petroleum and Mineral Resources Tarek El Molla has approved new appointments for key positions within the petroleum sector.
Prime Minister Mostafa Madbouly has approved new six law drafts to authorize the Minister of Petroleum and Mining Resources Tarek El Molla for petroleum agreements between the Egyptian General Petroleum Corporation (EGPC), Egyptian Natural Gas Holding Company (EGAS), and a number of international oil companies (IOCs).
Prime Minister Mostafa Madbouly met with David Chi, Vice President of Apache Corporation and Country Manager for Apache in Egypt, to review the company’s investments and future plans in Egypt.
SDX Energy has announced that it has signed a memorandum of understanding (MoU) with Aleph New Energies to explore and develop projects in the alternative energy sector.
