Petroleum min. meets Falco Energy executives over oil in Egyptian desert

CAIRO - 8 August 2024: Minister of Petroleum Karim Badawi met Thursday with a delegation from the U.S. company Falco Energy to discuss new excavations.

the meeting included Chief Operating Officer Thor Brakel, Iman Hill, General Manager of the company in Egypt, and Tawfik Nassif, Executive Vice President for Government Relations.

Badawi explained that the discussions included reviewing the company's activities, plans and work programs to increase oil and gas production rates in its areas of operation in the Eastern Desert and the Western Desert. 

Badawi highlighted the petroleum sector’s interest in continuous communication with international companies operating in Egypt to support them, and to attract new investments, intensify excavation, exploration and development programs using the latest technologies in an effort to improve operating efficiency and reduce the cost of producing a barrel of oil.

For his part, Thor Brakel stressed the importance of Egypt as a promising region for increasing Falco's activities in its concession areas in the Eastern and Western Deserts, especially after its acquisition of the assets of the Canadian company TransGlobe. 

He explained that oil production in Egypt represents a good opportunity for the company to expand its investments during the coming period.