Egypt explores petroleum partnership with Copelouzos Group

Egypt's Minister of Petroleum and Mineral Resources Karim Badawi received Dimitrios Copelouzos, chairman of the Greek Copelouzos Group, and Ioannis Karydas, CEO of the Group for Renewable Energy, Energy Storage and Interconnection

Areas of potential collaborations and investment opportunities available in the petroleum sector, natural gas and infrastructure were explored.
Badawi confirmed that Egypt's oil sector is conducting intensive research to increase exploration programmes. The plan is to achieve new discoveries that can potentially lead to increased production. The gfovernment is also working towards meeting local demand to relieve pressure on the import bill.
Badawi emphasised Egypt's strong infrastructure that has the potential to make it a regional energy centre. He confirmed that work is underway to explore investment opportunities in the hydrocarbons sector to serve the diversification of energy resources. The country is ready to initiate a multi-phase green hydrogen project that involves bp and Masdar, among others. 

Strong natural gas infrastructure

Copelouzos confirmed that Egypt is able to create a bright future in the field of natural gas by taking advantage of the strong infrastructure it has, especially the gas machine factories. This established the Group's interests to participate in any new tenders that Egypt might launch in the near future. He also referred to the electrical interconnection project between Egypt and the European Union among the most significant ones currently being implemented in Europe.
The meeting was also attended by Yas Mohamed, head of the Egyptian Natural Gas Company, and Moataz Atef, assistant head of Egas for the technical office, Special Projects and Operational Safety. 

In April, the Ministy of Petroleum and Mineral Resources signed a memorandum of understanding (MoU) with Equador, which was keen on exploring the North African country's oil and gas resources.