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Arab Finance: Egypt's Minister of Petroleum and Mineral Resources Karim Badawi met with Hani Esmat, CEO of Petronas Egypt, to discuss ongoing and future joint projects in the natural gas sector, as per a statement.
The meeting focused on the development and production of natural gas from the Mediterranean Sea, particularly through the 10th and 11th phases of the West Delta deepwater gas fields, where Petronas is a partner with Shell International.
Currently, work is progressing in the 10th phase with Shell International, focusing on drilling wells in deep water to boost natural gas production.
A clear plan is also in place for the eleventh phase to further develop gas resources in the region.
Badawi emphasized Egypt's commitment to supporting partnerships with Petronas, which has significant investments in the country, particularly in the natural gas industry.
He highlighted a clear vision to address challenges and take concrete steps to enhance these partnerships and drive investment in the oil and gas sector.
During the meeting, the CEO of Petronas Egypt underscored the importance of the investment partnership with Egypt, noting that Petronas Malaysia's total investments in the country amount to around $10 billion.
He also emphasized Petronas's commitment to continued cooperation with the Egyptian petroleum sector and pointed out the promising opportunities in the Egyptian market for mutual benefit.
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