Petroleum Minister meets Caterpillar’s Executive VP to discuss boosting cooperation in oil industry: Egypt

Petroleum Minister meets Caterpillar’s Executive VP to discuss boosting cooperation in oil industry: Egypt

Minister of Petroleum and Mineral Resources Tarek El Molla has met with Executive Vice President of Caterpillar Inc Thomas A. Pellette and the accompanying delegation. They discussed opportunities to increase cooperation between Egypt and the company, and introduce environmentally friendly solutions to reduce carbon footprint in the oil and gas industry. During the meeting, El Molla highlighted efforts made by the oil and gas sector within the framework of its strategy to reduce carbon emissions, which opens the way for more partnerships and investment opportunities during the coming period. Egypt’s market enjoys the diversity of investment opportunities and projects in the sector in addition to the presence of international partners from the giant international companies who are implementing projects with huge investments, the minister noted. He further pointed out that investing in the oil and gas sector in Egypt is a gateway for international companies to reach the eastern Mediterranean region and its abundance of growing opportunities in light of effective regional cooperation under the umbrella of the Eastern Mediterranean Gas Forum. Besides, the expansion of Egyptian companies’ businesses in Arab countries, namely Fajr Egypt, which is expanding in managing the natural gas network in Jordan. Pellette stated that the