Petroleum and Mineral Resources Minister Engineer Karim Badawy met with a delegation from IBR Company, led by Chairman Dr. Mahmoud Dabous. The discussion centered on the company's current operations and activities in its Western Desert and Gulf of Suez concessions, as well as its plans to boost oil and gas production and develop old fields.
The Ministry of Petroleum clarified that the meeting explored avenues for expanding the company's exploration and production efforts. This includes participation in the global tender launched this year, which offers 12 new areas in the Mediterranean and Nile Delta. Additionally, the company's potential to leverage additional investment opportunities, such as those announced on the Egyptian Unified Gateway (EUG) for exploration and field development in open areas, was explored.
During the meeting, Dr. Mahmoud Dabous provided an overview of the company's drilling and development programs in its Abu Roash, Beni Suef, and Fayoum concessions. The company is employing advanced technical methods to augment petroleum reserves and production rates.