2024-07-15 13:05:00
The Egyptian Ministry of Petroleum and Mineral Resources announced a project to drill 586 exploratory wells with investments worth $7.2 billion.
Minister of Petroleum and Mineral Resources Karim Badawi stressed the continuation of coordination and cooperation with the Ministry of Electricity and Renewable Energy to provide the necessary fuel supplies to operate power plants, and coordination with foreign partners to schedule and pay overdue dues to encourage partners to pump more investments with the aim of increasing production of crude oil and gas as soon as possible and finding incentive mechanisms to increase production programs and accelerate exploration programs, which achieves the common interests of both parties.
During the ministry’s statement before the parliamentary committee tasked with reviewing and discussing the new government’s program, Badawi pointed out “the need to move forward in attracting foreign investments in the short term by adopting a new investment approach that contributes to fully exploiting the sector’s potential in terms of refining, petrochemical and mineral resources plants, in addition to maximizing the benefit from modern capabilities of digital transformation and artificial intelligence technologies in various activities of the sector.”
He added: “Some of the principles that I will adhere to, whether at the sector level or in dealing with the House of Representatives and all ministries and other bodies, are: complete transparency in presenting various topics, frankness and presenting the situation with utmost clarity in terms of positives and challenges, and the plans in place to deal with those challenges, integration and teamwork with various ministries and bodies according to each topic, cooperation with the House of Representatives, the Energy Committee and various committees as partners towards achieving one goal, and benefiting from the various experiences and ideas from various bodies and not excluding any opinions or ideas.”
He stressed the importance of “continuously encouraging innovation and creativity and presenting new ideas in the various sites and activities of the sector, and communicating regularly with the press and media with the aim of presenting the latest developments in the activities and projects of the petroleum and mineral resources sector, and committing to conducting continuous field visits to all sites of the sector, whether through me or through all leaders in the sector, and paying attention to direct communication with workers in all work sites affiliated with the sector, listening to them, informing them of the sector’s vision, and motivating them to exert more effort to achieve that vision.”
He added: “As well as full commitment to establishing occupational safety and health standards, and working forward on environmental sanitation related to the sector’s activities in various locations and enhancing efforts to remove carbon and reduce emissions,” stressing the Ministry of Petroleum and Mineral Resources’ keenness to take into account the environmental dimension in the sector’s activities, and that “the issue of climate change and energy transformation” is at the top of the petroleum sector’s priorities within Egypt’s strategy for sustainable development.
Badawi stressed the importance of focusing on human energies at all levels, especially young expertise, to create a strong base of young leaders, while benefiting from the great expertise of the figures who contributed to the success of the sector over the past years, adding that within the framework of the strategic goal concerned with empowering women and promoting equal opportunities in all fields, I affirm my belief in the importance of the role of women and my confidence in their efforts as a main partner in construction, work and success, due to their prominent role in building and advancing societies.
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2024-07-15 13:05:00