Tarek El Molla, Egypt’s minister of Petroleum & Mineral Resources, has announced the launch of EGYPS 2020 in its fourth edition from 11-13 February under the patronage and support of HE President of Egypt, Abdel Fattah El Sisi
The show will be held under the theme “North Africa and The Mediterranean, Delivering the Energy Needs of Tomorrow’’.
This came during a press conference to announce the main features and objectives of this year show with an attendance of the petroleum sector leaders and the executives of foreign companies working in Egypt.
The minister added that the show is serving as a platform to display positive results and present the tangible progress witnessed in the petroleum industry across Egypt during 2019.
He also added that the event will focus on presenting the current and future visions of the oil and gas sector that aim to enhance the growth and promote the investments opportunities. He also considers the conference and the exhibition to be one of the most important events in the Middle East to shed the light on the unprecedented results and developments in the domain of the oil and gas industry.
The minister pointed out that the EGYPS has been developing significantly since the launch of its first edition in 2017, adding that the event witnessed a growth in the volume of global participation in the conference and exhibition including major international companies and executives which reflects its importance and esteemed position among major petroleum regional and international events.
The minister further noted that conference will discuss various topics this year related to Egypt’s efforts to transform into a regional hub for energy, as well as the development of vital activities in the industry and the women role in the oil and gas fields. The conference also will give an opportunity for youth and students to participate in the technical fields while providing them with the necessary exposure to scientific expertise.
He also added that the conference highlights the importance of financing in the oil and gas industry given that it is considered to be one of the largest activities globally in terms of acquisition and financial investments.
He pointed out that oil and gas sector in Egypt is currently witnessing positive indices that reflect their development, referring that a number of international companies have entered into the Egyptian market for the first time in the field of oil exploration, which reflects these companies confidence in the Egyptian investment climate and stability.
He announced that Egyptian refining company project in Mostorod has started its regular operation today noting that it will meet the needs of the local market of gasoline and gas oil.
He added that the petroleum sector continues to intensify research and exploration activities in existing production areas, such as the Gulf of Suez and the Western Desert, in an effort to reach new discoveries to enhance and increase Egypt’s oil production in parallel with starting exploratory activities with international companies in new and promising regions in the western Mediterranean and the Red Sea.
He also referred to the exit of a number of international companies from some of their old concession areas in Egypt which aim at doubling their investments in other sites such as gas production projects in the Mediterranean, adding that this paves the way to other companies to enter into Egypt such as Exxon Mobil and Chevron Corporation.
The minister pointed out that the petroleum sector is currently working on the digitalization of all its activities while providing all the data and geological maps on the governmental portal.
He also added that the ERP system for resources planning of enterprises has been applied on EGPC and Holding Companies and it is currently being applied in their subsidiaries in preparation for generalising the system in all the companies of the sector to facilitate the process of collecting joint data between companies and facilitate the managing of the operations according to these data.
