Molla, Lukoil discuss upping investments in Egypt
Petroleum and Mineral Resources Minister Tarek el Molla discussed with Lukoil’s Vice-President for the Americas, Western Africa and Europe Ivan Romanovsky the company’s projects in Egypt and its investment expansion plans, especially in its concession areas in the eastern and western desert.
In statements Friday, Molla stressed the importance of the years-long partnership and cooperation with the giant Russian oil company.
Egypt’s mining sector provides promising investment opportunities, Molla added during the meeting, saying that this encourages the Russian company to increase its presence in Egypt.