Egypt to organize int'l conf. in Nov. on exploration areas in Red Sea

CAIRO - 30 August 2018: Egypt is set to organize a global conference under the auspices of Petroleum Minister Tarek el Molla in November in Hurghada with the participation of several world companies and specialists within the framework of marketing for exploration areas in the Red Sea, said Chairman of Schlumberger Company for Northern Middle East Maen Razouqi.

This came at a meeting between Molla and Razouqi, along with the company’s Managing Director for Egypt and East Mediterranean Karim Badawi, during which they discussed the joint projects in the Red Sea and the Gulf of Suez.

The projects aim at carrying out seismic surveys and collecting data to get acquainted with oil and gas opportunities available in these areas.

During the meeting, they reviewed the exploration projects that are being carried out by Schlumberger Company in the Red Sea and the Gulf of Suez areas, as they will open the door for launching international bids in the coming period, Molla said in a statement on Thursday.

The meeting took up achievements of the Egyptian petroleum sector and their positive results in view of luring and boosting global investments, the minister added.

For his part, Razouqi asserted that there are several promising opportunities to expand his company’s activities in Egypt.