Petroleum Min. Discusses with Malaysian PETRONAS Investment Plans in Egypt

Karim Badawi, Minister of Petroleum and Mineral Resources held a discussion session with Tengku Muhammad Taufik, CEO of the Malaysian PETRONAS Group, concerning current investments in Egypt and plans to pump additional investments in the fields of research and exploration.

This came on the sidelines of his participation in the "Gastech 2024" conference in Houston, Texas, in the presence of Yassin Mohamed, Executive Managing Director of the Egyptian Natural Gas Holding Company (EGAS), and Mohamed Radwan, Director of the Egypt Gateway Exploration and Production Project.

The company's investments in liquefied natural gas (LNG) export projects, especially in the Idku complex, were also reviewed during the meeting, with a focus on increasing these investments in light of the growing global demand for liquefied gas.

Badawi also referred to discussing the status of the projects of the 10th and 11th phases for the development and production of natural gas in the West Delta fields in the Mediterranean, where PETRONAS is participating with Shell, the main operator.

Moreover, production from Phase 10 is expected to start by the end of this year, and Phase 11 in the second quarter of 2025.

Badawi also urged PETRONAS to explore new investment opportunities as an operator in several areas in coordination with the Egypt Exploration and Production Gateway team, noting the ministry’s full support for increasing gas exports from the Idku plant.