By Renad Ghanem
CAIRO — Egypt expects to attain self-sufficiency in gas production within the next two years under the programs recently adopted by the government as part of its efforts to pursue reforms and continue development, Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla said at the Egypt Petroleum Show 2017.
Egypt Petroleum Show 2017 kicked on Feb. 14 under the theme “Gateway to Egypt’s New Oil and Gas Opportunities”, and is winding up today with a huge participation of senior leaders representing the global and local oil and gas sector.
It was inaugurated under the patronage Egyptian President Abdel Fattah El-Sisi and Tarek El Molla, Egyptian Minister of Petroleum and Mineral Resources.
“EGYPS 2017 falls into line with the ministry’s strategic vision for year 2020/2021 to optimize sustainable use of natural resources, achieve long-term economic development, transform Egypt into a regional commercial center, and present a national role model for a successful modernization process that maintains HSSE standards, innovation, work ethics, transparency, and competence,” said Egyptian Minister of Petroleum and Mineral Resources.
“The event is considered significant and special in terms of promoting Egypt among key industry stakeholders on an international scale, providing the latest insights into the fast evolving industry, showcasing Egypt’s oil and gas short- and long-term strategies, and revealing promising investment opportunities,” Al Molla added.
The minister further said the recent adopted economic procedures affirm the government’s commitment toward reform and constant development. The ministry of petroleum’s strategy will allow the country to attain self-sufficiency in gas production within the next two years, add value through petrochemical industry, fulfill export commitments, and transform Egypt into a regional trade hub along the lines of the new liberalization law that will open natural gas sector to private investors.
“EGYPS 2017 will shed the light on Egypt’s modernization program for oil and gas sector, which aims at enhancing production capacity, encouraging young professionals to develop their careers, and reforming the ministry’s framework,” El Molla noted.
