Egyptian Minister of Petroleum and Mineral Resources Tarek el-Molla (Photo: Al-Ahram)
The Egyptian Petroleum Ministry on Tuesday signed an agreement with Baker Hughes, a GE company, to establish an online portal to promote Egypt's oil and gas exploration zones in a bid to attract foreign investments, Al-Ahram Arabic website reported.
As part of the Egypt Portal project, a digital investment map for concession areas in Egypt will be prepared in order to be used to manage tenders.
The agreement was signed between the ministry’s deputy for agreements and exploration Ashraf Farag and Baker Hughes' Vice President for Egypt and South Gulf Ayman Khattab on the sidelines of EGYPS 2018 conference and exhibition.
Egypt’s natural gas production currently stands at 5.5 billion cubic feet per day, according to Petroleum Minister Tarek El-Molla.
BP announced on Monday that production had begun from its offshore field Atoll, seven months ahead of schedule.