FILE - Minister of Petroleum Tarek El-Molla speaks during the Al-Ahram Energy Conference on December 18, 2017
CAIRO - 4 February 2021: Minister of Petroleum and Mineral Wealth Tareq el Molla said the recently discovered oil wells in the western desert asserted that the area has not yet revealed its secrets and already enjoys abundant natural resources.
In statements on Thursday during a meeting of the general assembly of Agiba Petroleum and Pharaonic Petroleum companies to approve the budges of 2020/2021 fiscal year, the minister said his ministry uses cutting-edge technologies to locate oil resources sites in the western desert.
He stressed the importance of abiding by safety and vocational health measures in oil companies as one of the basic elements of the success oil industry.
He pointed out to cooperation with Italy's Eni company to graduate specialists in the fields of safety and allow them to get masters and PhD degrees in the field of safety.
He called for a revision of operation costs which stipulate a cut in a barrel production costs, calling for increasing the number of development and exploratory wells in the two companies to increase production.