Petroleum Min., Russian companies discuss increase oil, gas investments

MOSCOW- 4 October 2017: Petroleum Minister Tareq Al Mulla called Wednesday the Russian companies to increase their investments in the fields of oil and natural gas exploration in Egypt and developing the production.

Mulla met with the heads of Russia's companies (Rosneft and Lukoil) on the sidelines of the 19th ministerial meeting of the Gas Exporting Countries Forum (GECF), which began earlier today in Moscow, headed by Russian Energy Minister Alexander Novak

During the meeting, Mulla tackled increase of the activity of the two companies in Egypt, as Rosneft will invest in Zohr field as a partner with Italy's Eni.

Both sides highlighted the available investment chances in Egypt in the fields of searching for oil and natural gas. The Minister pointed out that Egypt implies a project for the seismic survey of the Red Sea waters to be put on the investment map of searching for oil and gas.

Mulla led Egypt's delegation in the GECF's events, which are attended by leaders, ministers and heads of more than 500 oil companies.

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