Egypt probes expansion plans with Harbour Energy

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Egypt - Minister of Petroleum and Mineral Resources Karim Badawi met with the Executive Vice President of Wintershall Dea for the Middle East and North Africa Sameh Sabry to discuss the firm's expansion plans in the Egyptian market, as per a statement.

Sabry will soon assume the role of Vice President at the British company Harbour Energy.

This follows Harbour Energy's acquisition of Wintershall Dea's concessions in Egypt's Nile Delta and the Mediterranean Sea.

The discussions focused on the upcoming steps of the acquisition, Harbour Energy's plans to begin operations, and its expansion strategy in Egypt.

The meeting also covered a new initiative launched by Badawi to provide a package of incentives aimed at increasing production by foreign partners.

Badawi emphasized the Egyptian government's commitment to implementing practical solutions to support foreign investments, particularly in resolving payment issues.

He highlighted the petroleum sector's dedication to aiding foreign companies in enhancing exploration efforts and achieving new discoveries.