Molla urges intensified oil explorations to maximize production

CAIRO - 5 March 2019: The petroleum minister is pressing for intensified exploration at oil fields to quickly place them on the production map.

This is one of the major goals of the strategy of the petroleum sector, said Tareq el Molla, according to a Petroleum and Mineral Resources Ministry statement Tuesday.

The strategy is meant to up Egypt's oil production and ensure local market demands are secured, he noted.

Addressing a general assembly of Tharwa Petroleum to endorse the outcome of works of 2018, Molla called for making use of eased measures and the infrastructure to get optimal results from all exploration areas of the company.

Tharwa was established in 2004 as Egypt’s first joint stock Petroleum Company that is 100% nationally owned.

Tharwa initiated its exploration in five concessions in the Mediterranean Sea and Western Desert of Egypt.

In 2006, two more exploration concessions were acquired through the international bid rounds.