BAKU, Azerbaijan, June 1. Egypt is focused on increasing production at existing fields to ensure a reliable supply of petroleum products to consumers in the country and the region, Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, said, Trend reports.
Badawi made the remark on the plenary session titled “International Cooperation for a Resilient and Diversified Energy Future,” held as part of Baku Energy Week.
“We are paying close attention to accelerating the supply of petroleum products to the people of Egypt and the region, focusing on increasing production at existing fields, as well as accelerating exploration work to identify new reserves and bring them into production,” the minister said.
Furthermore, he noted that Egypt possesses a highly developed
infrastructure: a petrochemical sector, oil refineries, and gas
export terminals.
In addition, infrastructure for floating storage and regasification
units (FSRUs) has recently been established, enabling the import of
gas into Egypt as well.
“Therefore, our task is to use this infrastructure to create value-added products from hydrocarbon feedstock, regardless of whether it comes from Egypt’s resources or those of other countries in the region, thereby creating additional value for all stakeholders,” he added.
