Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi discussed TotalEnergies’ plans and new investment opportunities offered by Egypt Upstream Gateway (EUG), according to a statement.

In his meeting with Pascal Breant, Managing Director of TotalEnergies E&P in Egypt, Badawi reviewed plans for joint cooperation in offshore and onshore oil and gas exploration.

The two sides will develop gas resources and optimize the use of infrastructure to anchor Egypt's position as a regional energy hub.

During the meeting, the minister emphasized the importance of expanding areas of cooperation with the company, in line with the ministry's strategy aimed at maximizing the benefit from Egypt's gas and oil resources. This is in addition to attracting new investments in open marine and onshore areas, both in Egypt and Cyprus, and leveraging Egypt's infrastructure.

For his part, Breant expressed the company's aspiration for further cooperation with Egypt in light of the attractive investment environment in the oil and gas sector.

He added that the company aims to scale its activities in Egypt by participating in the development of untapped discoveries and studying opportunities in open areas.  

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