2024-07-16 16:49:39
The Egyptian Minister of Petroleum and Mineral Resources, Eng. Karim Badawi, sent a reassuring message to the heads of representatives of international petroleum companies operating in Egypt that the government realizes the importance of the efforts of international companies operating in Egypt, and that it is serious in its plans to schedule the payment of dues during the next phase and to establish a payment mechanism to ensure that they are not delayed again.
The Egyptian Minister of Petroleum confirmed, in a statement today, during an expanded meeting he held with the heads and representatives of international petroleum companies operating in Egypt, that the distinguished relations of the petroleum sector with its foreign partners contributed to achieving many successes in recent years and that the next stage requires a system of integration and transparency to achieve common goals and work as one team in the petroleum and gas industry in Egypt.
Badawi reviewed with representatives of international oil companies the current situation of the oil industry in Egypt, the challenges, plans and ways to confront and deal with them.
Badawi stressed that one of the most important challenges facing the petroleum sector is bridging the gap between production and consumption in light of the unprecedented increase in consumption rates, and that this will not be achieved without increasing production and intensifying research, exploration and development operations, noting that the goal is for the petroleum sector to provide added value to the Egyptian economy.
He pointed out the importance of exchanging expertise, developing the skills of workers, incentives to attract investments, ways to reduce emissions, social responsibility projects, and exploiting the available capacities in the infrastructure and existing facilities to link the production of new discoveries to them in a way that benefits all parties and saves the costs of field development operations.
Last update: July 15, 2024 – 22:51
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2024-07-16 16:49:39