Minister of Petroleum and Mineral Resources Tarek El Molla said on Tuesday 11/10/2022 that Egypt contributes to achieving energy security and stability at the global level through its role as a regional oil and gas trading hub.

During a meeting with officials of the German Wintershall Dea to discuss global challenges facing the oil and gas industry and soaring inflation rates, Molla said that the protocols signed by Egypt, the European Union, Greece and Cyprus in the energy field show great confidence of businessmen in the investment climate in Egypt’s oil and gas sector.

The minister stressed that the petroleum sector has intensified research and exploration activities in the recent period with the aim of increasing production.

Meanwhile, Chief Executive Officer of Wintershall Dea Mario Mehren affirmed his company’s full commitment to expanding its business in Egypt during the coming period.

He said that his company is currently evaluating the investment opportunities available in Egypt’s gas sector.

Source: State Information Service Egypt