Minister of Petroleum and Mineral Resources, Tarek El Molla, met with Victoria Coates, US President's Special Assistant and Acting Senior Director for the Middle East at the National Security Council, to discuss efforts exerted by the Egyptian government to develop the oil and gas sector.
The country transformed around 2,600 vehicles per month into the gas-power system, the source noted, adding that pumping natural gas into vehicles is done via 200 gas stations across the country.
The loan agreement was signed by Egypt and EBRD on May 22, 2018.
The LNG cargoes are offered in a tender that is set to close on March 18 in order to be awarded by March 21.
Eni has made a new gas discovery under evaluation in the Nour exploration prospect located in the Nour North Sinai Concession.
The Upstream Operational Excellence Technical Convention will have its third edition by the end of 2019.
El Molla and his American counterpart talked about ways of boosting cooperation in the oil and gas sector between Egypt and the US, and possibilities of increasing American petroleum companies' investments to provide operational and technical support to the Egyptian E&P of unconventional fields.
El Molla pointed out that the ministry’s commitment to secure an investment attractive climate will encourage big international oil companies (IOCs) to invest in Egypt.
The company is interested in the bid rounds launched by the Egyptian oil and gas sector for exploration in the Mediterranean and Red Sea.
El Molla met with CEOs of Schlumberger and BP to discuss the companies' work in Egypt.
