Speaking at EGYPS 2017’s opening speech. the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, said that the Ministry is aiming to create an attractive investment environment and turn challenges into opportunities, Al Borsa reported.
He added that the ministry seeks to provide international companies with opportunities in oil and gas research and exploration all over the country and accelerate the development of discovered fields, to increase Egypt’s production of oil and gas and to secure the national energy needs.
El Molla explained that the ministry’s plan coincides with the comprehensive reform in Egypt, which witnessed a concerted efforts between all of the government sectors to create an attractive investment environment.
He also pointed out that the implemented work program by the ministry for developing Egypt’s resources of oil and gas is based on several important aspects such as intensifying the global bids per year and increasing the number of petroleum agreements, which is the cornerstone to achieve new discoveries.