The Minister of Petroleum and Mineral Resources, Tarek El Molla, signed nine agreements for exploration and production (E&P) activities in the Mediterranean and the Western Desert with investments worth $452.3 million as well as a signature bonus for drilling 38 wells with $84 million.
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The Chairman of the General Petroleum Company (GPC), Nabil Abdel Sadek, announced that his company targets drilling 40 exploratory and developmental wells with an investment cost of EGP 2.6 billion in fiscal year (FY) 2020/2021.
The general assemblies of Cooperation Petroleum company (Copetrole) and Misr Petroleum Company were held on January 19, to approve their budget planning of fiscal year (FY) 2020/2021, headed by the Minster of Petroleum and Mineral Resources, Tarek El Molla.
The Minister of the Petroleum and Mineral Resources, Tarek El Molla, asserted the importance of the axial role of the Egyptian refineries in the sustainable market settlement in terms of the availability of the petroleum products and securing the fuel supplies.
The Minister of Finance, Mohamed Maat, said that the petroleum sector achieved a surplus of EGP 3 billion in Q1 of fiscal year (FY) 2019/2020.
The company has obtained a new contract of supplying and installing ten caravans for AL Alamia Oil Services company and other two for El Wastani Petroleum Company with whole investments worth more than EGP 4 million.
The Minister of the Petroleum and Mineral Resources, Tarek El Molla, said that the Eastern Mediterranean Natural Gas Forum (EMGF), is responsible for the cooperation in order to overcome the challenges and the great changes in the region,
France asked to join the membership of Eastern Mediterranean Natural Gas Forum (EMGF) officially during the third edition of the forum.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, held bilateral discussions on the sidelines of third ministerial meeting of the Eastern Mediterranean Gas Forum (EMGF) with the Cypriot Minister of Energy and Industry, Yiorgos Lakkotrypis, and the Greek Minister of the Energy and Environment, Kostis Hatzidakis, to look into the situation of the natural gas regional cooperation.
