Molla probes with int'l oil companies, US officials investment chances in Egypt

CAIRO - 27 June 2018: Minister of Petroleum and Mineral Resources Tarek el Molla discussed with a number of world oil companies and US officials investment chances in Egypt, on the sidelines of an international gas conference which started in Washington on June 26 and will run till June 29.

A statement issued by the Ministry of Petroleum on Wednesday said Molla met with heads of Chevron, BP, Snam, Bechtel, Baker Hughes and Suntrac companies reviewing the condition of the oil and gas industry in Egypt and investments available in the country.

The meeting took up the economic reform program adopted by the Egyptian government to lure more investments.

The minister also met with a number of US officials including the energy secretary and the secretary of state, as well as the head of the Congress energy committee and some lawmakers, and discussed with them cooperation in the oil industry and the successes Egypt has achieved in the energy sector.

His talks also dealt with means to turn Egypt into a regional energy hub and cooperation with Mediterranean and EU countries, as well as cooperation with oil companies operating in the Mediterranean region.

The US officials hailed Egypt's economic reforms, especially in the field of energy and the successes achieved in that domain.

Oil and energy ministers and heads and senior representatives of leading international oil and gas companies along with officials from the World Bank and from about 90 countries are taking part in the conference.