Tarek El-Molla, Egyptian Minister of Petroleum, received Tuesday French Ambassador in Cairo, Marc Baretti, to discuss areas of joint cooperation in the oil and gas sector and the current situation of cooperation with French companies in this field.
El-Molla pointed out that relations between Egypt and France are long-lasting and well-established. They have witnessed a great development and remarkable momentum in recent years, and this is a reflection of the distinguished relations between Presidents Sisi and Macron and their keenness on strengthening joint ties and relations of cooperation between the two countries. He added that the recent successful visit of Prime Minister Mostafa Madbouly to the French capital reflected the common interest in consolidating the Egyptian-French partnership in all fields and enhancing joint investment between the two sides.
El-Molla reviewed with the French ambassador the current cooperation situation with a number of French companies to implement new projects in the Egyptian oil and gas sector. Work is underway with French Axens, which is a leading company in the completion of engineering works for manufacturing licenses for the Red Sea Petrochemical Complex as the largest petrochemical project to be established in Egypt and Africa.
El-Molla also reviewed areas of cooperation with other French companies, led by the giant French company Total Energies, which seeks to diversify its investments in Egypt, whether in the areas of fuel distribution and trading or the search for natural gas in new and promising areas in the Mediterranean.
The two sides also reviewed new investment opportunities in the oil and gas sector, especially in the fields of research, exploration, production, petrochemicals and refining. El-Molla highlighted the continuous efforts of the Ministry of Petroleum to develop and modernize the work system in the research and exploration sector to create new attractive opportunities for international companies to search for gas and oil in Egypt in the regions The Mediterranean, the Western Desert, the Gulf of Suez and others.
During the meeting, both sides reviewed the efforts to establish the East Mediterranean Gas Forum in Cairo, which culminated in France’s official joining as a permanent member of the forum.
The French ambassador expressed his appreciation for being in Egypt at this historical time which is witnessing great strides forward in development and construction. He pointed out that there is a long-term friendship between Egypt and France with a mutual interest in developing it. He stressed the importance that France attaches to continuing to develop and strengthen relations with Egypt in all fields.
