H.E. Tarek El-Molla, Minister of Petroleum and Mineral Resources of Egypt, will deliver a keynote speech and opening address at African Energy Week, with a vision for Egypt’s role in Africa’s energy future.
Renowned for its substantial oil and natural gas reserves, Egypt has firmly established itself as a key player in the global energy market. The petroleum sector has not only experienced impressive growth but has also become a vital pillar of the country’s economy. Against this backdrop, the African Energy Chamber (AEC) is honored to announce that H.E. Tarek El-Molla, Minister of Petroleum and Mineral Resources of Egypt, a distinguished leader and expert in the energy sector, will deliver a keynote speech and opening address at the upcoming African Energy Week (AEW) conference – taking place 16-20 October in Cape Town and centered around the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets.’
H.E. Minister El-Molla, equipped with extensive experience and knowledge, began his career after obtaining a B.Sc. in Mechanical Engineering from Cairo University in 1986. His career highlights include serving as the Managing Director: Marketing at Chevron Egypt, followed by a successful tenure as Regional Manager at Chevron South Africa. He then joined the Egyptian General Petroleum Corporation (EGPC) and held significant positions, leading to his appointment as EGPC’s CEO. In 2015, he assumed the role of Minister of Petroleum and Mineral Resources, solidifying his commitment to Egypt’s energy sector.
Under the leadership of H.E. El-Molla, Egypt’s Ministry of Petroleum and Mineral Resources is set to launch three international tenders for oil and gas exploration in 2023. These tenders aim to enhance exploration and solidify Egypt’s position as a regional energy stronghold. Previous licensing rounds in 2022 offered exploration blocks across the Mediterranean, Nile Delta, Western Desert and the Gulf of Suez. With the upcoming tenders and anticipated investments of around $250 million, Egypt expects a significant increase in production capacity and exports from its current 7 billion cubic feet of gas per day. Egypt’s proactive approach in leveraging its energy resources to drive economic growth, attract foreign investments and enhance energy security reinforce its position as a key player in the global energy landscape.
Recognizing the importance of partnerships, Egypt has strategically collaborated with various countries and energy companies to enhance the export of its valuable resources, particularly oil and natural gas. In the context of European countries seeking to diversify their energy sources and reduce reliance on Russia, Egypt has positioned itself as an attractive supplier. Notably, the country has established strong ties with Eni, an Italian supermajor and one of Europe’s largest oil and gas companies. This partnership has yielded significant results, including the discovery of the massive Zohr gas field in the Mediterranean Sea. Meanwhile, Wintershall Dea, a German independent company operating in Egypt, began oil production in the Gulf of Suez 50 years ago and has since shifted its focus to natural gas. One of its notable partnerships is a 50/50 joint venture – DISOUCO – with the Egyptian General Petroleum Corporation, Egypt’s state-owned gas company.
Egypt’s collaborations have led to the successful development and expansion of its energy resources, fostering technology transfer, knowledge sharing, and tapping into export opportunities. Consequently, Egypt has established itself as a reliable supplier of oil and gas to the European market. These partnerships highlight Egypt’s dedication to nurturing mutually beneficial relationships, leveraging international expertise, and driving economic growth while maximizing its energy potential.
Stepping into this picture, the Minister will deliver a keynote speech and opening address at AEW 2023, presenting the opportunities that lie ahead for Egypt’s petroleum and mining sector and sharing valuable insights for other African countries looking to learn from Egypt’s success.
Meanwhile, Egypt boasts a diverse range of mineral resources, encompassing precious metals and nonmetals. These valuable resources are scattered throughout the country, with significant concentrations found in the Eastern Desert and the Sinai Peninsula. The country has substantial reserves, including approximately 48 million tons of tantalite, 50 million tons of coal, and 6.7 million ounces of gold. Such abundant resources position Egypt as a promising mining destination with the capacity to become one of the leading contributors to the global mining industry. As such, the Minister is making strides towards leveraging these resources to improve the country’s GPD growth, a topic which will be further unpacked during AEW 2023.
“Minister El-Molla’s expertise in the energy and mineral sector, combined with Egypt’s substantial oil and natural gas reserves, adds immense value to discussions on Africa’s energy future. Egypt’s prominence in the global energy market is further underscored by the Minister’s participation at AEW 2023, emphasizing the country’s dedication to economic growth, attracting investments, and strengthening energy security. The Chamber eagerly anticipates his insights on Egypt’s role in the African energy renaissance, including strategies for energy poverty alleviation, sustainability, industrialization, and embracing free market principles,” says NJ Ayuk, Executive Chairman of the AEC.
AEW is the AEC’s interactive exhibition and networking event uniting African energy stakeholders, driving industry growth and development, and promoting Africa as the destination for African-focused events. For more information, visit www.aecweek.com