Eleven new petroleum excavations in the western desert and Suez will be revealed by the end of April, according to Petroleum Minister Tareq al-Molla, hoped to entice foriegn investors with the prospect of advanced facilities and benefits.
In his speech at the opening of the eighth Mediterranean Offshore Conference and Exhibition (MOC) on Tuesday, Molla expressed the ministry's pleasure at the high turnout of companies and the quantity of research submitted for the conference this year. He celebrated the success stories told by heads of international companies operating in the Mediterranean, in light of the new excavations, and the productivity of review sessions.
“We consider this conference a prime opportunity to hold practical scientific discussions about how to enhance our petroleum industries", announced Molla. "By exploring modern methods, our full potential can be reached, especially in the field of excavation and production.”
Edited translation from Al-Masry Al-Youm