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Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi met with Nasser Saif Al Yafei, CEO of Arcius Energy, to discuss the company’s plans to expand natural gas exploration and production activities in Egypt, according to a statement issued by the Ministry of Petroleum and Mineral Resources.
Badawi said the ministry has taken a series of recent steps to enhance Archius Energy’s investments in Egypt.
He noted that a team from the Egyptian Natural Gas Holding Company held a joint workshop with the company to coordinate cooperation and identify opportunities for increased investment.
The minister added that Arcius Energy is seeking to strengthen cooperation and expand its investments in Egypt, viewing the country as a strong regional launchpad for its natural gas operations.
During the meeting, Al Yafei outlined Arcius Energy’s expansion plans in Egypt and its ambitious five-year work program for research, exploration, and production.
The program aims to unlock new gas resource opportunities, double the company’s production rates, and expand its business portfolio through increased investment in exploration activities and field development.
The company also highlighted its success in completing the investment agreement to develop the Harmattan gas field in the Mediterranean.
This development is proceeding in parallel with investments aimed at securing new areas for natural gas exploration.
