Petroleum Africa
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Monday, June 4, 2018
The Egyptian Minister of Petroleum Resources, Tarek El Molla and his British investment counterpart Graham Stuart, met recently and discussed the strengthening of the British presence in the Egyptian hydrocarbon sector, including through improved investment by British firms.
Minister Stuart spoke of the need for UK firms to invest more in exploration and major hydrocarbon development projects.
A joint statement said that efforts will be made to attract more companies from the UK.
Firms like BP are already busy in Egypt and responsible for a number of important discoveries in the Mediterranean and Gulf of Suez.
The two men also discussed the possibility of investing in petrochemicals to monetize waste from production. Cairo has promised to provide updates to this effect in the coming weeks.
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