Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources before the American Chamber of Commerce:
- The Political Leadership's Interest in Demarcating Borders with Neighboring Countries Opened Major Prospects for Expanding the Exploration Activities.
- IOCs Requested Extending the Deadline of EGPC and EGAS Bid Round.
- Applying the Advanced Technologies in the Gulf of Suez Brownfields.
- $6 billion Foreign Direct Investments during 2020, Despite the Challenges of COVID-19.
On 29th June 2021,Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, announced that upon the request of a large number of IOCs, the deadline for closing the first international bid round for oil and gas exploration and exploitation for 2021, in 24 blocks affiliated to the EGPC and EGAS, was extended until the end of next September, pointing out that it's the 1st digital bid round through Egypt's Upstream Gateway (EUG).
This came in his speech during a meeting organized by the American Chamber of Commerce in Egypt, entitled "The Oil and Gas Sector's Transformation Fueling the Egyptian Economy", in the presence of Jonathan Cohen, the US Ambassador to Egypt, Eng.Tarek Tawfik, Chairman of the Chamber, as well as a number of leaders in the Petroleum Sector and Heads of local and foreign petroleum companies.
El Molla added that Egypt has succeeded in overcoming the challenges since 2011, and that Egypt's Vision 2030 aims at improving the economy and ensuring sustainability, asserting that the Petroleum Sector's Modernization Program, launched in 2016, has begun to bear fruits, which is notable in the consecutive success stories in the Petroleum Sector.
Minister of Petroleum during his Speech in front of the American Chamber of Commerce 2
Minister of Petroleum and Mineral Resources with Heads of IOCs 1
Minister of Petroleum and Mineral Resources with Heads of IOCs 2