Cairo: The Industrialization and Energy Services Company (TAQA) takes center stage at the 7th edition of EGYPES 2024, Egypt's premier energy show, held under the esteemed patronage of the President of the Republic. Under the theme, "Driving Energy Transition, Security, and Decarbonization", this year’s edition drew a distinguished gathering of top energy officials from around the globe.

TAQA’s participation in EGYPES 2024 aligns seamlessly with its ambitious strategy to pioneer new and proactive technologies in the energy sector. This strategic move is poised to play a pivotal role in achieving Egypt's Vision 2030, particularly in terms of decarbonization and the reduction of emissions from the sector.

During EGYPES, TAQA made a significant impact in two-panel discussions. The first, titled “Shaping the Future of Energy Innovation,” featured Mario Ruscev, Executive Vice President of Products and Technology at TAQA. Ruscev highlighted TAQA's leadership in Carbon Capture and Storage (CCS) and its significant investments in geothermal energy.

"Carbon capture is not new to TAQA; we have been pioneers in this field for over 20 years and have mastered the technology,” Ruscev stated. "TAQA is committed to reducing emissions from the flaring process as part of our unwavering efforts towards sustainability.”

In line with TAQA's focus on promoting environmental initiatives and advancing the energy transition towards a more sustainable future, Ruscev highlighted a new alliance with a leading company in geothermal energy. He mentioned that the company now has technologies for fuel combustion using oxygen (Oxy-fuel), which significantly improves the cost-effectiveness of carbon capture and results in lower emissions of pollutants such as carbon dioxide and carbon monoxide compared to air combustion.

The second panel TAQA had an impressive participation at was titled, "Leveraging Africa's Natural Resources for Global and Domestic Energy Security", where Hussam Abu Seif, Vice President Africa, and Iraq, expressed his optimism about the progress of many African nations regarding infrastructure and legislation.

Abu Seif highlighted the significance of Africa's infrastructure and legislative advancements, stating, "This development not only showcases the continent's export potential but also boosts opportunities for collaborative development among African nations." He also emphasized Egypt's strategic positioning and robust infrastructure, which prompted TAQA to designate it as a pivotal hub for expanding into the Middle East and Africa. This comes in light of the fact that investments in the petroleum sector in Egypt have accounted for 40% of total foreign investments in the past five years

Regarding opportunities in East Africa, Abu Seif stated, "We are ready to invest and expand in various countries of the continent, but we are mindful of the local content requirements of those countries. Local content and the availability of actual, digital, and legislative infrastructure are among the most important factors that strongly contribute to attracting investors."

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About TAQA:

Founded in 2003, TAQA is an international company headquartered in Dhahran and Abu Dhabi that offers leading well solutions for the energy industry and is creating value and opportunity for all its stakeholders. TAQA has more than 5,000 people in more than 20 countries and serves multiple markets. TAQA offers a complete well solutions portfolio that includes Coiled Tubing and Stimulation, Cementing, Wireline, Frac, Directional Drilling, Downhole Tools, Completions, Well Testing, Slickline, Inspection and H2S & Safety.