Petroleum Ministry signs agreement to market Oil discoveries



Tue, 13 Feb 2018 - 01:31 GMT


Tue, 13 Feb 2018 - 01:31 GMT

Caption: During signing the cooperation agreement between Ministry of Petroleum and Baker Hughes GE International

Caption: During signing the cooperation agreement between Ministry of Petroleum and Baker Hughes GE International

CAIRO – 13 February 2018: The Ministry of Petroleum signed a cooperation agreement during EGYPS 2018, with Baker Hughes International Company to launch the operations of Egypt Gate project to market the petroleum zones and oil discoveries, attracting international companies’ investments to these areas.

Egypt Gate project aims to develop advanced mechanisms for the marketing of oil and gas exploration areas through the International Information Network, Minister of Petroleum Tarek al-Molla commented.

Molla added that this project is considered as a milestone to adding the rising petroleum zones on the international investment map.

The agreement was signed by undersecretary for agreements and exploration Ashraf Faraj, and vice president of Baker Hughes AG Ayman Khattab.

The agreement states that the government provides the company with digital infrastructure and electronic applications to support the project and to enhance the predictive ability of the accounting information for the management of global bidding rounds for oil and gas exploration.

It also states that the company prepares a digital investment map to the outbidding areas.

President Abdel Fatah al-Sisi inaugurated on Monday the second edition of the Egypt Petroleum Show (EGYPS 2018).

The Egypt Petroleum Show (EGYPS 2018) is set to take place from February 12 to 14, 2018.

The exhibition aims to bring together the region’s key stakeholders shaping the energy industry’s future, noted the event organizer Global Energy of dmg events in a statement.

The EGYPS 2018 exhibition provides the largest and most important platform for industry professionals to gain insights into the upcoming oil and gas opportunities in Egypt and North Africa, from future licensing rounds, and project requirements to short and long-term strategic plans and priorities.

The conference will feature four dedicated conference tracks, hosting over 150 expert speakers and attracting over 1,000 conference delegates; the tracks are Strategic, Technical, Women in Energy and the New Security in Energy.

The two-day conference is hosting global business leaders discussing key industry topics to support global progress, develop international frameworks and foster growth through strategic partnerships focusing on the shifting dynamics of global trade markets as well as emerging North African and Mediterranean energy hubs for product export and transit.

The first edition of the show EGYPS 2017 ran from February 13 to 15, 2017.



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