Petroleum Minister Backs Petronas and Shell’s Joint Efforts

Minister of Petroleum and Mineral Resources Karim Badawi has met with Hany Esmat, the CEO and Country Head of Operations at Petronas Egypt, where they discussed the joint projects and investment for developing natural gas production through the two projects of the tenth phase and eleventh phaseses for developing the West Delta fields in cooperation with Shell company. Petronas is currently working with Shell in the tenth phase to implement the deep-water drilling program in order to add new production of natural gas and there is a clear plan for the eleventh phase to develop gas resources in this region. Badawi emphasized his support for the partnership and cooperation with Petronas, stressing the existence of a clear vision to confront the challenges and work seriously in this regard to have a direct impact on supporting partnerships and pumping investment in the oil and gas industry. For his part, Esmat stressed the importance of the partnership with Egypt through investments with costs of $10 billion, s tressing the importance that Petronas attaches to partnership and cooperation with the Egyptian petroleum sector and to working together and that there are good opportunities in the Egyptian market to achieve mutual benefit for both sides. Source: State Information Service Egypt