He also highlighted that most countries of the world are now adopting natural gas as the best fossil fuel with friendly characteristics
In efforts to boost cooperation in the field of designing and implementing oil projects and manufacturing equipment, the Ministry of Petroleum and Mineral Resources witnessed a memorandum of understanding (MoU) between Petrojet and Baker Hughes, an international industrial service company.
Tarek El Molla, Minister of Petroleum and Mineral Resources, met with a delegation from Baker Hughes earlier today to discuss strengthening joint, and ways to exchange expertise and transferring modern technology via holding joint workshops.
The memorandum focuses on strengthening cooperation in the field of supplying specialized chemicals and their various uses, which include improving the productivity of wells and transportation lines of petroleum products, reservoir tests, extracting sulfur and carbon dioxide from raw materials, treating industrial water and others.
El Mulla stressed that the global energy industry is witnessing major changes in light of the global tendency towards eco-friendly green power within the framework of decreasing carbon emissions to maintain the environment.
He also highlighted that most countries of the world are now adopting natural gas as the best fossil fuel with friendly characteristics.
The environment during this transitional phase towards new and renewable energies, which highlights the role of the Eastern Mediterranean Gas Forum in providing part of these global needs for natural gas in a way that achieves the common interest and benefits for all member states, indicating the great interest of the political leadership in climate issues, preserving the environment and diversifying the energy mix.
He added that the coming period will witness a significant increase in activities and investments in the oil sector in light of the clear interest of foreign companies operating in Egypt to expand their activities in order to achieve more discoveries and increase production.
He went on to explain that the global oil markets recover and price levels are balanced in addition to the success of the oil sector in Improving the investment climate, contributed to encouraging large foreign companies to pump new investments.
