Petroleum Minister Tarek el Molla discussed Friday with Lukoil Senior Vice President for Overseas Oil and Gas Exploration and Production Denis Rogachev the company’s projects in Egypt and its investment expansion plans, especially in its concession area in Western desert.

El Molla stressed the importance of the years-long partnership and cooperation with the giant Russian oil company and the need to reinforce such ties ahead.

Noting that he had met Lukoil president on the sidelines of ADIPEC conference in UAE last month, el Molla pointed out that the they have agreed on arranging this meeting to probe new investment potentials for Lukoil in Egypt.

For his side, Rogachev outlined that Lukoil has been operational in Egypt since 20 years ago, with investments estimated at around 600 million dollars.

Source: State Information Service Egypt