Tuesday , July 5 2022

«Mulla» is looking for investment opportunities in the oil and gas sector (Photos)


Oil and Minerals Minister Tariq Al Mull held talks with Brian Milton, Exxon Mobil Corporation President and ExxonMobil Egypt President Hisham Al Amroousi, during which he reassessed investment opportunities in the oil and gas sector as part of the ministry's strategy to expand oil and gas activities Gas Industry New areas of work that add value to the Egyptian economy.

Exxon Mobil's president expressed a strong desire for the company to step up cooperation and expansion of its oil and gas activities, and commended the positive changes that Egypt's oil industry had experienced over the last four years and the record achieved in the development of gas and oil development projects, infrastructure projects and refining.

He added that the project in the development and modernization of the oil sector is a prime example in the rest of the country. He has shown a long history and significant partnership with the Egyptian oil industry for over 115 years during his presence in Egypt, where he has been positively involved in oil products technology. 350 stations and warehouses in Egypt are backed by a fleet of oil-fueled vehicles equipped with state-of-the-art technology to help cover domestic fuel consumption and automotive oil on the local market.

The meeting was attended by Ing. Abed Ezz Al-Ghanim, Oil and Gas Executive Director Ashraf Faraj, Deputy Minister of Agreements and Surveys, and engineer Mahmoud Naji, Deputy Minister for Transportation and Distribution of Petroleum Products.

After talks, Tariq Al-Mulla, the Minister of Petroleum and Mineral Resources, attended a meeting organized by Exxon Mobil on the occasion of the 115th anniversary of his work in Egypt under the slogan "115 years of successful partnership in the development of Egypt" Mohammed Al-Asara, and a number of ambassadors and leaders of Egyptian and foreign oil companies.

The Minister stressed that the oil industry is continuing to fulfill its ambitious strategic goals with full engagement. Its priority is to meet the needs of the local oil and gas market and to develop distribution and marketing activities as a mirror to the oil sector for its citizens and to promote a growing partnership with international oil companies operating in Egypt. Marketing of petroleum products using state-of-the-art technologies and advanced technologies and maintaining modern trends to increase efficiency and save fuel consumption by improving technical specifications and studying the introduction of new types corresponding to modern automobile engines.

Mulla added that he is working on the implementation of the national project of transforming Egypt into a regional center for trade and trade in gas and oil, which will contribute to the energy supply and economic feasibility of Egypt-owned infrastructure in favor of the Egyptian economy.

The Minister has reviewed the historical development of the Egyptian oil industry over a hundred years ago and the challenges it faces after 2011 and the strategies that have been developed and the most important positive results achieved over the last four years that are the most important gas sovereignty after the 4th Delta Nile gas and Delta Nile gas projects and a reduction in the claims of foreign partners to one third compared to 2012, except for a law on gas market regulation that allows the private sector to enter and compete in all activities of the gas industry in Egypt. refining, petrochemistry and infrastructure. A number of these projects are being carried out, as well as the implementation of a project to develop and modernize the oil sector to meet the needs of Egypt. Future Challenges.

He explained that the success of the Petroleum Ministry in pursuing the objectives of the new strategy required intensive efforts and intensive work in cooperation with major partners of international companies.

Al Mulla commended ExxonMobil's important role in marketing and distributing oil products during his work in Egypt, and backed the ministry's initiative that for the first time in the Egyptian market it will launch the 95 brand petrol for the first time and its contribution to the human resources development program in the oil industry. Collaboration in all activities of the oil and gas industry.

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