Sinai’s Vast Oil Potential Unlocked by Egypt
Tarek El-Molla, Egyptian Minister of Petroleum and Mineral Resources, spoke about the enormous oil potential of the Sinai Peninsula.
During the periodic meeting of the committee for the development and increase of current rates of oil production, which included oil companies, he emphasized the importance of finding innovative solutions and making the most of the opportunities, resources and production capacities available in the oil regions. , including the ancient Sinai region, especially since the concession areas of these companies still have oil potential. Additional support is definitely needed for continued cooperation and coordination between these companies.
He explained that the current stage with rising world oil prices gives a strong incentive to partners to intensify research and exploration, drill more wells, and then increase production.
He listened to the explanations of the leaders and representatives of the partners of companies working to develop and increase production in the Sinai oil region, which included an overview of the oil reserves that can be developed, the problems that lie ahead and how to overcome them.
And he emphasized the importance of accelerating the development of the proposed reserves with full coordination through the committee to support this, especially in relation to drilling, workover and completion programs, commitment to rationalization and cost reduction programs, and the committee providing everything that will support the plans to increase the production of these companies. , indicating that field follow-up Presence in the workplace and oil production in general is the top priority at the current stage.
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