Slovakia to invest in Egypt's oil and gas sector: Petroleum Minister

CAIRO – 30 November 2023: Minister of Petroleum and Mineral Resources, Tarek El-Molla, held discussions with the Ambassador of Slovakia in Cairo, Lenka Mihalikova, Egypt and Slovakia in the areas of oil, gas, and emissions reduction.

During the meeting, Ambassador Mihalikova expressed the interest of a delegation from Slovak companies to visit Egypt and discuss investment possibilities, particularly in the oil and gas sectors.

She also commended Egypt's efforts in energy transition and emissions reduction.

Minister El-Molla emphasized the petroleum sector's readiness to cooperate with Slovak companies across various areas within the petroleum industry.

Earlier this year, Ambassador Ehab Nasr, Assistant Foreign Minister for European Affairs, met with a delegation from the Slovak Ministry of Foreign Affairs to explore cooperation opportunities between Egypt and Slovakia in tourism, air transport, and the automobile industry sectors.

Both sides agreed to facilitate visits between businessmen and investors to foster investment opportunities between the two countries.

In line with the Ministry of Petroleum's commitment to strengthening the petroleum sector in Egypt through international collaborations, Dana Gas has announced plans to expand its investments by $43 million. This investment will support an intensive drilling program aimed at expanding gas wells in Egypt during 2024.

Dana Gas aims to increase daily gas production in Egypt by 30 million cubic feet through the drilling of 11 development wells and 3 exploratory wells.