Total To Increase Investments, Exploration in Egypt

Senior Vice President of the Africa Division of the Total Group Stanislas Mittelman confirmed that his company has an ambitious plan to increase its investments in Egypt during the coming period, whether in research and exploration or in the field of marketing.

Mittelman said that there is also a plan to increase the number of auto and service supply stations to the latest international standards, according to a statement by the Egyptian Ministry of Petroleum.

This came during a meeting of the Minister of Petroleum and Mineral Resources, Tareq Al-Mulla, with the Vice President on the sidelines of the Egypt Petroleum Show 2020 (EGYPS).

During the meeting, the minister reviewed the position of the company's activities in Egypt in the fields of research, exploration and marketing.

Al-Mulla emphasized that the presence of international companies in Egypt supports the ministry's strategy to increase production and provide petroleum products to the local market, noting that there are many areas of cooperation representing opportunities for total to expand their activities in Egypt.

On the other hand, the Egyptian Minister of Petroleum received the Chairman of "Air Products" company specialized in supplying ammonia and hydrogen units and special facilities for projects under the "POOT" system.

During the meeting, both parties reviewed the position of the company’s contribution in supplying the required materials to the facilities of the Assuit National Oil & Petrochemicals Co. (ANOPEC) project, the the Red Sea National Company for Refining and Petrochemicals, and the refining and petrochemical complex in the Suez Canal Economic Zone (SCZone).

The president of Air Product pointed out that the company aims to invest about $1 billion in Egypt's petroleum projects during the coming period.