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The Minister of Petroleum and Mineral Resources, Tariq Al-Mulla, held several meetings and discussions on the sidelines of the Abu Dhabi International Petroleum Conference (ADIPEC 2018) with the Saudi Minister of Energy, Energy and Energy. Industry and Mineral Resources, Khalid Al-Faleh, and leaders of several international oil companies attending the conference.
Al-Mulla discussed with his Saudi counterpart a number of issues of common interest regarding the evolution of global oil markets and crude oil prices, as it was pointed out that It was necessary to continue to support the efforts and initiatives of cooperation between OPEC countries and non-OPEC countries in order to stabilize the markets and the balance between the OPEC countries and the non-OPEC countries in order to stabilize the markets and the balance between the Supply and demand,.
Al-Mulla pointed out that the meeting had also focused on strengthening cooperation between the two countries in various areas of the oil and gas industry, stressing the importance of working on the transfer and the l & # 39; exchange of information and technical expertise in the activities of research, exploration and mining, especially as Egypt was preparing to launch the first offer of oil and gas exploration in the Red Sea region.
He added that Egypt attaches great importance to cooperation with Saudi Arabia in the mining sector, as it is currently working on developing strategies to attract more and more people. investments and to develop the exploitation and manufacture of mineral wealth, stressing that he had discussed with his Saudi counterpart the arrangements made for the holding of the 15th Arab Conference on Mineral Resources, Late this month. this.
The two ministers reviewed the areas of oil cooperation, in particular the Sumid project for the transfer and circulation of crude in the regions of Sokhna and Sidi Kerir, which is currently expanding strategically to increase its capacity to receive store and circulate oil products as part of Egypt's transformation plan into a regional center for trade and energy.
Mr. Mulla also met with the UAE Minister of State, ADNOC, Chief Executive Officer of the Abu Dhabi National Oil Company, who examined promising investment opportunities in the Egyptian oil and gas industry, given the UAE's interest in Egypt.
Both sides emphasized the importance of exchanging experiences in various fields of the oil industry, which is one of the most important factors contributing to the strengthening of cooperation between the oil industry and the oil industry. Egypt and the United Arab Emirates and benefiting from the expertise and technologies available on both sides.
On the other hand, Al Mulla held a series of bilateral meetings with the leaders of a number of international oil companies participating in ADIPEC 2018 in Abu Dhabi, where he met with Bob Dadley, CEO of the British group BP and Hisham Makkawi, regional chairman of the North Africa group. The project for the development and production of natural gas from the North Alexandria, Western Mediterranean and Aljari deposits accelerates the implementation of its second phase with a view to launching the first gas production from this source. step in the next month of the field of Giza – Fayum.
The Minister of Petroleum discussed with Sami Iskandar, executive vice president of Shell International and engineer Jasser Hanatr, president of Shell Egypt, the company's work programs in the deep waters of the Mediterranean and Western Sahara, and reviewed the executive position of the Phase 9 B project for the development and production of natural gas in the western delta. The new gas wells in the project respectively in production.
Shell's new exploration and exploration programs in Western Sahara were also reviewed and Shell's global leadership confirmed the company's interest for the first time in new exploration and exploration projects in the Red Sea in the coming period, given the trend of the oil sector to enter the region.
During his meeting with the president of the Italian company Addison and the accompanying delegation, Mr. Al-Mulla discussed the situation in the deepwater areas of Egypt in the Mediterranean for research and exploration of natural gas.
During his meeting with Fagit Alekperov, director of the Russian group Lukoil, one of the leading international oil companies, the group plans to launch a new phase in the development of the natural gas field in Western Sahara, hoping to increase its investments in Egypt and develop its activities. For exploration, oil and gas exploration and production, the company chairman expressed his company's willingness to open new areas of cooperation with the oil sector in the field training of Egyptian oil executives in the training centers of the company.
The Minister of Petroleum has met with several executives of Schlumberger in the United States, including with the engineer Mohamed El-Toukhy, head of the company's exploration activities, and with Karim Badawi, president Chief Executive Officer of Egypt and the Eastern Mediterranean Region in the Red Sea and Gulf of Suez region. New international investment in these areas, especially so that the use of advanced technologies in the implementation of these projects achieves the desired objective with the greatest possible efficiency.
Schlumberger officials underscored their company's desire to strengthen its partnership with the oil industry and expand its operations in Egypt, thanks to the success of its recent projects and the continued growth of investment opportunities.
Mullah also discussed with Matthias Hillman, CEO of Digital Solutions, Baker Hughes, General Electric and the delegation accompanying the cooperation between the two parties in the implementation of the Egyptian Electronic Portal Project for the marketing of oil and gas areas. Exploration as a digital investment card to promote promising areas, registering as part of initiatives to develop and modernize the Egyptian oil sector. Oil works using technology and the development of digital solutions also discussed the possibilities for cooperation between the two parties in the context of new oil projects.
At a joint meeting with Joe Rennie, CEO of Halliburton and the accompanying delegation, Mulla reviewed with the president of the US company its current activities in Egypt, highlighting the importance of Cooperation between the two parties to apply the latest technologies in crude oil extraction. The light of increased oil activity and expansion of the oil sector in exploration and development projects on the ground.
Mulla discussed with a delegation of officials of the Dragon Oil Company, headed by Mr. Ali Al Jarwan, CEO of the company, the investment opportunities available in Egypt, particularly with the expansion of new business areas. 39 Exploration and exploration for oil and gas, especially in the Red Sea region. Promising areas with promising oil investment opportunities, which are of great interest to exploit in light of the successes of recent years.
The Minister discussed with David Phillips, President of the Arab-American Chamber of Commerce, the role of this chamber in supporting the Egyptian oil and gas industry by helping to attract US investment to Egypt and by presenting them with investment opportunities.
After the talks, Al-Mulla said he had invited ministers and leaders of international companies to attend the Third International Petroleum Conference in Egypt (EGPS 2019) at its third session in February.
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