Arab Finance: Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, received Alan Lane, CEO of Cairon Company. where The company's activities in Egypt and its future plans were discussed In its concession areas in Egypt in the Mediterranean Sea, the Western and Eastern Deserts, and the Gulf of Suez, in light of the company’s great desire to expand its business portfolio in Egypt to include new concession areas.
Badawi stressed that the Western Desert region has not yet revealed all its secrets and has promising prospects, especially in the field of unconventional sources of oil and gas, noting that he witnessed a strong desire from many international companies to work in this promising field in Egypt.
The Minister stressed the importance of modern technologies in achieving positive results for shale gas and offshore drilling operations at greater depths that were not possible before, thus achieving great benefits for Egypt in increasing production and reserves, pointing to the full support of the petroleum sector for international companies to perform their work, and pointed out that partnerships An integrative strategy is the key to achieving common successes and goals that benefit all parties.
For his part, the company’s president stressed its commitment to its work and its belief in the promising investment opportunities in Egypt and its desire to acquire new concession areas, pump additional investments, and intensify research, exploration and well maintenance operations with the aim of maintaining and increasing production rates, pointing to holding a joint workshop with petroleum sector companies to develop a work program. In the long term for the company in Egypt.
He pointed out the company's intention to bring an advanced hydraulic excavator to Egypt to begin fracturing drilling operations for shale gas, which has many benefits, including preserving the environment, reducing costs, and lower energy consumption, pointing to the company's success in raising production rates during the last period after well maintenance operations.
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