CAIRO, Feb 12 (NNN-XINHUA) – The fourth edition of Egypt Petroleum Show “EGYPS 2020” kicked off on Tuesday in Cairo, with the participation of some 465 petroleum companies.
Egyptian President, Abdel-Fattah al-Sisi, inaugurated the three-day event, which includes a conference and an exhibition, and is held under the theme “North Africa and The Mediterranean, Delivering the Energy Needs of Tomorrow.”
More than 465 companies and 1,600 participants from 14 countries are participating in the conference, which will run through Feb 13.
Egyptian Presidential Spokesman, Bassam Rady, said, the conference and the exhibition highlight the achievements of the Egyptian oil and gas industry.
Meanwhile, Egyptian Minister of Petroleum and Mineral Resources, Tareq Al-Mulla, said in a speech, during the opening session that, the oil and gas sector contributed in 2018-2019 with 27 percent of the gross domestic product of Egypt, at a value of 1.4 trillion pounds (89 billion usd).
The Egypt Petroleum Show is North Africa and the Mediterranean’s largest oil and gas exhibition and conference.
EGYPS’s international country pavilions play a key role in enhancing bi-lateral trade, creating the opportunity for dialogue and long lasting agreements.
Meanwhile, Board Chairman of Qingdao RuankongYunyi Heavy Industry Co., Ltd, Liu Yingjie, said, the Middle East region is one of the key regions in the distribution of petroleum refining business, noting that, his company participated in the event in an attempt to find Egyptian business partners.
Egypt aims to become a regional hub for the trade of oil and liquefied natural gas, after major discoveries were made in recent years, including the Zohr gas field in the Mediterranean, which holds an estimated 30 trillion cubic feet of gas.
Since July, 2014, Egypt signed more than 82 gas and oil exploration deals with investors, with a minimum investment of about 16 billion dollars.– NNN-XINHUA
