Cairo, Washington probe Egyptian govt's efforts in oil, gas sector

CAIRO - 16 March 2019: Minister of Petroleum and Mineral Resources Tareq el Molla discussed with US president’s aide for the Middle East Affairs Victoria Coates efforts exerted by the Egyptian government to develop the oil and gas sector.

The two sides also discussed the positive outcome achieved in this regard, most notably reaching self-sufficiency in addition to the resumption of gas exports, the Ministry of Petroleum said in a statement Saturday.

Molla, currently on a visit to Washington, reviewed the legislative and monetary reforms taken by the Egyptian government as part of the economic reform program, which he said obviously contributed to increasing foreign direct investments in the energy sector, especially from the United States.

This will help Cairo benefit from the US companies’ expertise and advanced technology in the oil and gas industry, the minister said.

Meanwhile, the US official asserted Washington’s keenness to foster partnership with Cairo in all fields, particularly energy.

She also expressed the US appreciation for Egypt’s role in enhancing gas resources in the eastern Mediterranean region.