Cairo, August 23 (WAM) - Engineer Karim Badawi, Minister of Petroleum and Mineral Resources in Egypt, held a meeting with H.E. Engineer Abdullah Attiya Al-Masabi, CEO of ADNOC Drilling, to discuss opportunities for strategic partnerships between the company and the Egyptian petroleum sector, as well as participation in implementing an expanded program for drilling onshore and offshore wells.

The Egyptian Minister of Petroleum confirmed that increasing drilling activities is one of the main pillars of the plan of the Ministry of Petroleum and Mineral Resources of Egypt over the next five years, within a comprehensive strategy aimed at maximizing domestic production of crude oil and natural gas through intensifying exploration and discovery activities, accelerating development of discoveries, increasing well-drilling rates, and benefiting from the latest technologies and technical solutions.

He noted that the Egyptian Petroleum Sector has promising opportunities and an ambitious drilling and development program, which opens up new avenues for establishing partnerships with global and Arab companies specializing in drilling services, especially those that have advanced technological capabilities and extensive experience in implementing large-scale drilling programs.

The minister praised the technical and technological capabilities and advanced expertise of ADNOC Drilling in carrying out well-drilling operations, as well as its achievements in employing technology and innovation to enhance the efficiency of drilling and production processes, emphasizing the importance of benefiting from this expertise in supporting the plans of the Egyptian Petroleum Sector.

He also praised the great expertise and capabilities of ADNOC, led by His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Chairman and CEO of ADNOC Group, in various fields of the oil and energy industry, emphasizing that enhancing cooperation between Egypt and the UAE in the field of oil and energy is an extension of the strategic relations between the two countries, opening new areas for partnership and investment.

Engineer Karim Badawi affirmed that the improved investment climate in the Egyptian oil sector and the steps taken to strengthen confidence with investment partners represent a strong foundation for launching a new phase of investments and increasing exploration, production, and research activities.

H.E. Engineer Abdullah Attia Al-Masabi stressed ADNOC Drilling Company’s interest in strengthening its presence in the Egyptian market, establishing effective partnerships with the Egyptian General Petroleum Corporation and its affiliated companies, and benefiting from the great potential of the Egyptian oil sector.

Al-Masabi praised the clear and ambitious vision of the Ministry of Petroleum and Mineral Resources in Egypt to increase well drilling activities over the next five years, emphasizing the company’s interest in participating in implementing this program and utilizing its technical and technological expertise and capabilities to support production growth goals.

He pointed out the importance of cooperation with EDC, an Egyptian drilling company, given its long history and accumulated experience in drilling oil and gas wells inside and outside Egypt. He explained that specialized technical meetings would be held in the near future to explore opportunities for cooperation between the two sides and identify areas of participation in implementing the targeted drilling program.

The meeting comes within the framework of the Egyptian Ministry of Petroleum and Mineral Resources' efforts to expand partnerships with global and regional companies specializing in drilling activities and petroleum services. It also aims to provide the necessary capabilities, equipment, and technologies required for an increased drilling program over the next few years, which will contribute to accelerating the development of oil resources and increasing domestic production.

The Egyptian side was represented by Engineer Salah Abdel-Krim, CEO of the General Petroleum Corporation, and Engineer Mahmoud Nagi, Deputy Minister of Petroleum and Mineral Resources overseeing safety, environment, energy efficiency, and climate. Also in attendance were Mr. Ahmed Badwi, Vice President for Business Development at ADNOC Drilling.

Qar/Maqu/Zee