Cairo, Austrian OMV energy group probe investment opportunities

CAIRO - 12 February 2020: Minister of Petroleum and Mineral Resources Tarek el Molla discussed with a delegation from Austrian oil and gas group OMV the investment opportunities available in the fields of exploring and producing oil and gas in light of OMV’s desire to return to the Egyptian market.

The meeting was held on the sidelines of the Egypt Petroleum Show (EGYPS 2020) that kicked off on Tuesday.

Molla welcomed the Austrian company’s orientation and interest in returning to investment in Egypt, stressing that all means of success and sustainability would be provided in this regard.

The minister added that the investment climate in Egypt’s petroleum industry has achieved tangible progress, pointing out to the measures taken to facilitate investment and remove obstacles facing international companies seeking to inject investments in the country.

Meanwhile, the Austrian company officials said they look forward to returning to work in Egypt, expressing hope that Cairo would be their new key to success in the Middle East region.

EGYPS is the largest oil and gas conference and exhibition across Egypt, North Africa and the Mediterranean. It has attracted over 270 local and international industrial experts.

Held under the theme of "North Africa And the Mediterranean: Delivering The Needs of Tomorrow," the event sees the participation of 1,600 people from 14 countries, alongside 15 international petroleum companies and more than 450 exhibitors.

The event is scheduled to last till Thursday.