Petroleum minister, Italian amb. probe boosting joint investments

CAIRO – 26 October 2017: Minister of Petroleum and Mineral Resources Tareq el Molla discussed with Italian Ambassador in Cairo Giampaolo Cantini means of boosting bilateral relations in addition to the investment opportunities available in Egypt.

The meeting touched on the Italian investments’ role in search and exploration in the petroleum field, Molla said in a Thursday statement.

On that score, the minister pointed to three Italian companies working in Egypt, namely Eni corporate that implemented Zohr gas field project, Edison company which carries out development projects in Abu Qir area in addition to Technip company that implements two projects in Assiut oil refinery.

Molla also reviewed the new gas law and its expected impact with regard to luring more investments and attracting international companies to implement several projects in Egypt.

Meanwhile, the Italian ambassador voiced Rome’s appreciation for its relations with Cairo, particularly in the economic sector topped by the petroleum sector.

Cantini also affirmed that there are promising opportunities to boost the production of petroleum and natural gas.