France's ENGIE seeking new investments in Egypt

Petroleum Minister Tarek el Molla met Wednesday with CEO of France's ENGIE Maria Moraeus Hanssen to discuss investment opportunities the oil company might find interesting in Egypt. 

The meeting took up cooperation between the petroleum sector in Egypt and the French company, Molla said.

He added that the Egyptian-French partnership in the oil and gas field is developing.

Molla posted Hanssen on the reform program adopted by the government to face economic challenges.

Talks also focused on projects to promote explorations in the Mediterranean Sea, the minister said.

Hanssen, for her part, said her company is seeking to expand its investments in several concession sites in Egypt, atop of which West el Borlos in the Mediterranean, Alam el Shawish in the western desert and Wadi Deb in the eastern desert. 

Successful gas discoveries in the Mediterranean will serve as yet another incentive for investors to pump new investments into Egypt, she added.

Source: MENA