Halliburton explores further investments in Egypt’s petroleum sector
Updated 12/18/2024 10:02:00 AM
Arab Finance: The US oil giant Halliburton intends to increase investments in Egypt in light of the Ministry of Petroleum and Mineral Resources’ recent encouraging measures, new agreements, and incentive policies, the company’s President Eastern Hemisphere Shannon Slocum said.
His remarks came during a meeting with Egypt’s Petroleum Minister Karim Badawi, who stressed the importance of Halliburton's role in securing technology to uncover Egypt's petroleum potential.
This aligns with the framework of the ministry’s recently launched initiative that urges companies to resume work in offshore research and exploration activities as well as in a number of mature onshore fields.
Operating in Egypt for 60 years, Halliburton has teamed up with the Egyptian General Petroleum Corporation (EGPC) and the Egyptian Natural Gas Holding Company (EGAS) to boost exploration activities in Egypt, particularly in new concessions.
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