Arab Finance: Chile-based Enap Sipetrol Company is considering acquiring new concessions in Egypt while maximizing oil and gas exploration operations, Minister of Petroleum and Mineral Resources Tarek El-Molla revealed.

The company is also interested in boosting production and pumping additional investments into the Egyptian petroleum sector, El-Molla added.

The minister’s remarks were made during his meeting with the Chilean Ambassador to Cairo Roberto Ebert, General Manager of Enap Sipetrol Julio Friedmann, and Chief Executive of the company’s unit in Egypt Denisse Abudinén.

During this meeting, they discussed the company’s current operations in Egypt and its expansion plans

For his part, Friedmann affirmed the company's steadfast commitment to operating in Egypt and broadening its business portfolio and investments in it.

Enap Sipetrol currently holds a 50.5% participating interest in the concession of East Ras al-Qattara in the Western Desert, with a full ownership of the West Amer concession in the Eastern Desert.

So far, the company’s total investments in Egypt amount to $581 million, and its total current production is about 10,000 barrels per day.


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