The Egyptian General Petroleum Corporation (EGPC) and Natural Gas Holding Company (EGAS) signed a MoU on Saturday with France’s TotalEnergies SE to evaluate the technical and economic viability of decarbonisation solutions.
CEO of Total, Patrick Pouyanne, explained that linking with Egypt as a regional energy centre is a great gain for both parties, noting the company has an ambitious plan to speed up the implementation of projects to develop new gas discoveries.
The two parties have reviewed the business progress and Total’s targeted investment plans during the coming period in the activities of research and production of oil and gas in North Marina and Beshrush, said Minister of Petroleum, Tarek al-Molla.
Pouyanne also assured on Africa’s situation which has great untapped wealth due to the lack of potential and that this will ultimately benefit it, reviewing the company’s project.
al-Mulla added that Total is achieving good sales and considers Egypt an important centre for the company’s exports of mineral oils.
The signing ceremony came during the Decarbonization Day event at 27th UN’s climate summit (COP27), as the deal was signed by Alaa Al-Batal, CEO of EGPC, Magdy Galal, CEO of ENLG, and general manager of Total Energy Egypt for Marketing, Thomas Strauss.
