Strategic partnership with Germany in oil, gas domain: Molla

CAIRO - 4 February 2019: Minister of Petroleum Tarek el Molla affirmed the importance of fostering cooperation and strategic partnership between Egypt and Germany in the oil and gas industry.

Inaugurating the fifth Egyptian-German businessmen forum in Cairo on Monday, the minister expressed hope for more partnerships and signing of more agreements contributing to strengthening economic relations between the two countries in the oil, gas and petrochemical domains.

The inauguration ceremony, which was attended by German Federal Minister for Economic Affairs and Energy Peter Altmaier, Minister of Investment and International Cooperation Sahar Nasr and Minister of Trade and Industry Amr Nassar, coincided with a visit to Egypt by a delegation representing major German companies.

Molla pointed out to cooperation between Egypt and the European Union in the field of energy and Egypt's efforts to become a regional gas hub.

The minister said the oil sector adopts an ambitious strategy in line with Egypt 2030 vision which aims at guaranteeing energy security, making the optimal use of natural resources and meeting the local market needs of energy, praising the integrated reforms the country has adopted to stimulate investments and encourage world oil companies to work in Egypt.

Minister Molla said the past four years witnessed unprecedented positive results in the gas domain topped by putting four gas projects on the production map and signing 63 agreements for oil and gas exploration.