Minister of Petroleum: Egypt has a strong local manufacturing base and partnerships with neighboring countries

Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, met with Antonio Pietri, President of Aspen Tech International and his accompanying delegation, to complete the series of meetings and discussions that the Minister of Petroleum is conducting with major international companies participating in the activities of the Climate Summit COP 27, which is currently hosted by the city of Sharm El-Sheikh.

El-Molla explained that during the meeting, they discussed ways and support for joint cooperation, and reviewed the investment opportunities enjoyed by the Egyptian petroleum sector in the fields of refining, petrochemicals, energy efficiency, emissions reduction technologies, the mining sector, and training and raising the efficiency of human cadres.

During the meeting, the Minister of Petroleum and Mineral Resources stressed the importance of the decarbonization day, which is scheduled to be held tomorrow as part of the summit’s activities, to inform the world of efforts to reduce emissions and preserve the environment and to develop plans to cooperate together in these areas, adding that Egypt has already started implementing energy transformation projects during the past years. It seeks to diversify the use of technologies and integrated solutions in the activities of the oil and gas industry, as well as the development of the mining sector through legislative reforms that took place during the last period, which stimulated companies to pump more investments in this vital sector.

El-Molla added that Egypt has a strong local manufacturing base and there are partnerships with neighboring countries to take advantage of the capabilities of each country, and there is a desire from companies to work in various energy projects.

For his part, Pietri stressed that technologies have developed a lot during the last period, declaring the desire of the company, which has advanced technological solutions, to work in the activities of the oil and gas industry as well as the fields of mining, energy efficiency, emissions reduction and hydrogen, in addition to developing the skills of workers, praising the modernization and development program implemented by the petroleum sector. The Egyptian government and the seven different programs it includes in all petroleum activities.

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