UAE seeks increasing oil investments in Egypt

CAIRO - 25 April 2018: Minister of Petroleum and Mineral Resources Tarek el-Molla discussed during a meeting with CEO of Mubadala oil company of the United Arab Emirates Bakhit Al Kathiri and CEO of refining and petrochemicals department of the company Khalifa Abdallah al-Romeithi cooperation projects in light of the company's interest in increasing its activities in Egypt.

The meeting came after the company bought in March a 10-percent share of the Italian Eni company in the concession area in Zohr gas field, said the minister in a statement issued on Wednesday.

The minister pointed out that Mubadala company officials showed keenness on investing in the Red Sea region.

For his part, Mubadala CEO said his company is interested in investments in Egypt especially in the oil and gas domain.