In a press release to Egypt Oil&Gas, the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, announced that the strategic direction for the oil and gas sector within the ministry’s 2020/2021 vision is to leverage the country’s mineral resources for the betterment of the Egyptian society and promote the country as a regional oil and gas trading hub.
El Molla comments came during a meeting with the employees at Ganoub El Wadi Petroleum Holding Company (Ganope) at the company’s headquarters to review the ministry’s Modernization project that aims to overhaul the sector and improve performance in various aspects.
El Molla explained that the Modernization projects focuses on a number of dimensions, one of which is attracting foreign investments during the next years with the objective of aligning oil and gas funding with the country’s mineral potentials. Another focal-point under Modernization is people development, to maximize the sector’s human capital benefits. Furthermore, the First Undersecretary at the Ministry of Petroleum, Mohamed Taher, highlighted the project’s implementation roadmap that included six work streams, which will be rolled out concurrently.