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.
