Minister of Petroleum and Mineral Resources Karim Badawi met with Minister of Foreign Affairs, Emigration, and Egyptian Expatriates Badr Abdel-Atty on November 8 to enhance coordination for increasing foreign investments in the petroleum sector and creating new opportunities for Egyptian petroleum companies to compete globally. The meeting focused on strengthening energy cooperation with regional countries to establish Egypt as a regional hub for energy trading, leveraging the country’s existing infrastructure.
Abdel-Atty emphasized the value of exchanging expertise with energy-producing nations to deploy advanced technology for natural resource exploration and exploitation. During the meeting, Badawi reviewed the latest developments in projects designed to connect regional gas fields to Egyptian facilities to bolster energy security, including commercial agreements signed with Cyprus in October to transport natural gas from the Cypriot Cronos field to Egypt’s Zohr field facilities.
Badawi stressed the importance of showcasing the excellence of Egyptian petroleum companies to help them secure major projects abroad. This coordination has already led to significant international expansion. The Petroleum Projects and Technical Consultations Company secured a $1.08 billion contract in October to execute the second phase of the Hassi Bir Rkaiz field project in Algeria in a consortium with Italy’s Arkad Spa. Meanwhile, the Egyptian Company for Project Operation and Maintenance signed agreements in April with Nigeria’s NETCO to operate and maintain the Port Harcourt refinery and provide technical support to the Warri and Kaduna refineries.
Demonstrating entry into new markets, Town Gas became the first Egyptian company to enter the European market in October 2024 by securing contracts to supply natural gas to households and businesses in Romania. Egypt Gas has completed several international projects, including the development and upgrading of 10 pressure reduction stations on the Arab Gas Pipeline in Jordan, offshore platform maintenance in Saudi Arabia for the Khafji Joint Operations, and gas injection pipeline modification in the Asab oil field in Abu Dhabi for ADNOC Company.
Source: egyptoil-gas.com