Egypt - Tarek El Molla, Minister of Petroleum and Mineral Resources, welcomed James Robert Maguire, Chairperson of Carlyle Group, along with Mathios Rigas, Chairperson of Energean Greece, and Parminder Singh, Executive Director of Carlyle Group. During the meeting, they discussed Carlyle’s acquisition of Energean’s assets in Egypt, Italy, and Croatia as part of the group’s strategy to expand its oil, gas, and energy activities, particularly in the Mediterranean region.

El Molla expressed enthusiasm for the global group’s desire to operate in Egypt and the region by establishing a subsidiary specializing in exploration and production in the Mediterranean. He highlighted that the entry of new oil companies into Egypt’s petroleum sector reflects the attractiveness of available investment opportunities in oil and gas. El Molla also expressed optimism about achieving further successes with Carlyle, similar to the effective contributions made by Energean in Egypt’s oil sector.

The Minister of Petroleum emphasized the importance of intensifying exploration and research activities, adhering to scheduled work plans, and making discoveries to support reserves and increase production.

James Robert Maguire, Chairperson of Carlyle Group, stated that Carlyle aims to build a bright future and make significant investments in Egypt’s oil and gas sector. He highlighted the attractive investment opportunities and flexible business environment in Egypt. Maguire mentioned that the group plans to provide advanced technologies for deep exploration activities that were previously impossible.

Maguire also noted that the group is working on strategic plans to expand its activities in the Mediterranean region and contribute to increasing oil and gas production in Egypt, transforming it into a hub for receiving and distributing the group’s production in the Mediterranean.

Carlyle Group is known for its work in private equity, global credit, infrastructure, and natural resources. The group has a significant global energy platform that invests in developing new energy pathways and has a strong track record of supporting oil and gas companies in implementing decarbonization strategies.

The meeting was attended by Alaa El-Batal, CEO of the Egyptian General Petroleum Corporation (EGPC); Yaser Mohamed, Chairperson of the Egyptian Natural Gas Holding Company (EGAS); and Samir Raslan, Undersecretary for Agreements and Exploration.

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