Engineer Karim Badawi, Minister of Petroleum, and a scene from the meeting
Egyptian-Emirati talks to increase cooperation and investment in petroleum and mining
Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, discussed with Engineer Sherif El-Olama, Undersecretary of the Ministry of Energy and Infrastructure for Energy and Petroleum Affairs in the sisterly United Arab Emirates, ways to increase cooperation opportunities in the fields of petroleum and gas, and to open up avenues for cooperation in the mining sector.
The meeting took place on the sidelines of the annual meeting of Baker Hughes in Florence, Italy, in the presence of Dr. Mohamed Radwan, Vice President of South Valley Egyptian Holding Company for Petroleum for Agreements and Exploration and Director of the Egypt Digital Exploration and Production Gateway (EUG).
The Minister of Petroleum and Mineral Resources praised the longstanding fraternal and strategic relations between Egypt and UAE in various fields, especially the energy sector, emphasizing that many Emirati companies are investing in Egypt's energy sector, and that Egyptian petroleum project companies are working efficiently on energy and infrastructure projects in the UAE.
The meeting reviewed the package of incentive measures adopted by Egypt to support oil and gas exploration and production activities, reflecting the strength of the petroleum investment climate in Egypt during the current period. In this context, major Emirati companies were invited to enhance their presence and capitalize on greater investment opportunities through Egypt's digital exploration and production gateway (EUG) and the opportunities it offers.
The meeting also addressed technical cooperation and the transfer of expertise to Egypt in the field of unconventional oil and gas resources, an area of interest to the petroleum sector.
Discussions also focused on leveraging the UAE's technical expertise in artificial intelligence applications for exploration. Promising opportunities in the petrochemical sector were also reviewed, given Egypt's major projects, as well as investment and cooperation opportunities in green hydrogen projects and energy efficiency and conservation programs.
The two sides discussed deepening cooperation in the mining sector and utilizing Egypt's diverse mineral resources, particularly in light of the significant developments and incentive measures recently approved by the Ministry of Petroleum and Mineral Resources in this sector. At the conclusion of the meeting, both sides agreed to continue working on developing the strategic partnership between the two countries in the energy sector in the coming period.
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