On the sidelines of the Offshore Technology Conference (OTC), which was held the US city of Houston, Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, participated in the annual meeting of the Egyptian Ministry of Petroleum, which was organized by the Bilateral US-Arab Chamber of Commerce under the slogan of (Increasing the Current Investment Opportunities in the Petroleum Sector for US companies), where the Minister reviewed investment opportunities in the Egyptian oil, gas and petrochemical sectors, before US officials and Arab companies and the developments witnessed by the Egyptian Petroleum Sector.
The Minister stressed on continuing to encourage exploration activities and increase investments, as a main core to increase oil and gas reserves and production.
The Minister pointed out that the Government has approved the New Gas Law, which is considered a real boom to support the gas regulatory framework in Egypt; paving the way for the Egyptian private sector to compete & participate in the natural gas market and it will be presented to the Parliament for approval.
On the sidelines of the Conference as well, the Minister of Petroleum visited some partitions of foreign, Arab companies and the Egyptian private sectors such as General Electric, ADNOC, and Honeywell.
(Source: Ministry of Petroleum)