Minister of Petroleum
Furthermore, these draft laws include authorization for the Minister of Petroleum and Mineral Resources to contract with the EGPC and HBS International Egypt Limited. The aim is to amend the commitment agreement for oil exploitation in the southwestern El Alamein region in the Western Desert.
He added that Egypt's current gas production rate is approximately 6 billion cubic feet per day, and the stability of these rates by the end of the current fiscal year is subject to companies' commitment to implementing field development and growth operations to achieve production targets.
Molla was speaking on Tuesday during his inspection tour at a number of new petroleum projects in Ain Al Sokhna.
Both sides discussed ways to exchange experiences and transfer modern technologies through the expansion of joint workshops, according to Ministry of Petroleum statement.
The minister's remarks were made during an event marking the International Cooperation Ministry launching of a joint coordination platform with the Oil and Mineral Wealth Sector
The new facility will produce 100,000 tons of bioethanol annually, he said.
Molla added in his statement to the House of Representatives, that the contribution of the mining sector to the GDP is "insignificant", and does not exceed half a percent only, which does not reflect the real capabilities of this sector.
Molla said that refineries have an important role to play in meeting and securing the needs of the local market for petroleum products.
The minister said this is considered the first phase of an agreement between the two sides that aims at implementing the presidential initiative to expand the national project to use natural gas as a fuel to vehicles.
Meanwhile, Berger said that Egypt is on top of the EU priorities to enhance partnership in energy field, asserting continuing cooperation between the EU and Egypt in this field.
11 mining companies won a gold ore exploration bid on an area of about 170 km2 in the Eastern Desert and the Red Sea.
It comes within the framework of the first program of the project to develop and modernize the petroleum sector and develop advanced mechanisms.
A total of 15 gas wells have been dug in the southern area of Zohr oil field and are already on the production map, Petroleum Minister Tarek el Molla said Monday.
Molla added Reuters that dues decreased by 5.5 percent, compared to $900 million at the end of 2018/2019 fiscal year.
Located in the conventional Egyptian waters of the Nile Delta, the discovery was announced early this month.
In a statement on Thursday, Molla said that the natural gas has been extended for first time to villages and cities in Upper Egypt and densely populated districts.
The meeting took up the project of electronic boards that display gasoline and diesel prices for consumers at gas stations.
The project comes to support efforts and developmental programs implemented in Upper Egypt, Molla said.
Molla said 1.07 housing units were connected to natural gas within 2019-2020 as part of a national project to deliver natural gas to households.
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.
