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Safwat Atta, board member at Qarun Petroleum Company (QPC), called on public banks to establish a joint venture specialized in petroleum exploration and production. Advanced technology solutions have highly contributed to reducing the risks of petroleum exploration, he affirmed.
On the sidelines of the roundtable held under the title of “Financing Petroleum Sector”, he confirmed that the petroleum sector was not affected by the negative repercussions of 2011’s revolution. Revenues from petroleum companies surged with the rise of global oil prices. Therefore, Investing in petroleum companies is a good investment opportunity for banks, he concluded.
