Engineer Tariq Al -Mulla, Minister of Petroleum and Mineral Resources, held a session of discussions with officials of the Emirati Mubadala Company, which invests in the Egyptian oil and gas sector, Musabah Al -Kaabi, CEO of the investment sector in the UAE, included Mubadala Investment Company, Mansour Al Hamid, CEO of Mubadala Energy, on the sidelines of the Abu Dhabi International Petroleum Conference and Exhibition. Adeeb 2022.
The discussions included a review of the oil sector’s and the Emirati company’s current areas of cooperation, including research and production of natural gas in the Mediterranean, new exploration projects in the Red Sea, and the Somid project for the transfer and trading of oil. Additionally, the horizons of maximising the areas of cooperation, investment opportunities, and projects in which the Emirati company can participate were discussed.
Also, Eng
During the conversation, Tariq Al-Mulla praised Mubadala’s desire to increase its investment presence in Egypt over the coming years, particularly in the fields of gas and low-emissions, as viable options for securing energy supplies and maximising economic benefit from resources. He cited the Somid project as an example of this successful collaboration between the two parties, as well as Mubadala’s role as a partner for global companies in the concession areas for research and production.
For his part, Musabah Al-Kaabi confirmed Mubadala is increasing its investments in Egypt, particularly in the implementation of projects involving LNG in addition to renewable energy, and that it is now establishing a regional headquarters there to keep up with its ambitious business plan.
Al-Kaabi noted the launch of the company’s new brand, “Mubadala Energy,” which reflects the company’s direction to enhance its contributions in the field of low energy, and emphasised that the new strategy of Mubadala Energy Company aims to play a significant and effective role in the field of energy transformation.
On the margins of “ADIPEC 2022,” the petroleum minister talks with an Emirati exchange about ways to improve collaboration.
About Author
