Tarek el-Molla
The agreements are to be referred to the parliament for further discussions on required legal measures pertaining to bringing them into action.
The move stemmed from the responsibility that the ministry assumes to help the Egyptian economy face the current challenges and contribute to keeping the wheels of economy turning.
The minister said the newly-automated depot comes as part of the ministry's efforts to develop storage, transport and distribution of petroleum materials.
This came on the sidelines of the annual PDAC Convention, the world's premier international event for the minerals and mining industry, held in Toronto, Canada.
He touched upon promising opportunities in the mining field in Egypt, especially in light of amendments to the mineral resources law.
Egypt works to create an investment-friendly climate and cope up with the international practices in the mining industry with an aim to turning the mining sector into a strong contributor to the country's national income.
Molla will deliver a speech at the ministerial opening session of the conference which witnesses the participation of more than 25,000 figures representing around 135 world states.
During a meeting of the ECHEM general assembly to endorse the 2020-2021 budget, Molla said these projects would lure more foreign investments.
Investors will be given the opportunity to bid on 320 blocks over an area of about 56,000 square kilometres in the Eastern Desert and the Red Sea.
The minister said increasing Egypt's oil output tops the ministry's priorities to bridge the gap between production and consumption.
Molla's remarks were made during his chairing of the general assembly meeting of Rashid Petroleum Company/Burullus Gas Company (Rashpetco).
The minister's remarks were made during chairing the general assembly meeting of Gulf of Suez Petroleum Company (GUPCO) to approve the financial budget for 2020-2021 and the amended budget of 2019-2020.
Molla praised the US side's support for Egyptian oil sector and cooperation to promote a successful partnership.
The move was made as part of the second-day activities of the Egypt Petroleum Show (EGYPS 2020).
The meeting was held on the sidelines of the Egypt Petroleum Show (EGYPS 2020) that kicked off on Tuesday.
The agreement, signed as part of -proceedings on the second day of the Egypt Petroleum Show 'EGYPS 2020' here today.
The move was made as part of the second-day activities of the Egypt Petroleum Show (EGYPS 2020).
This came on the sidelines of Egypt Petroleum Show (EGYPS 2020) held in Cairo on February 11-13.
The meeting was held on the sidelines of EGYPS 2020 conference in Cairo.
Molla clarified during his speech at Egypt Petroleum Show (EGYPS 2020) that foreign investment hit $35 million during the last 4 years.
