Mediterranean Sea: Fuelling the future 

 

The Egyptian Petroleum Sector with the support and guidance of the Ministry of Petroleum will once more and for the 6th time hold the Petroleum’s Sector’s official event next year in Alexandria.

The world is going through difficult and turbulent times, and what seemed impossible just a few months ago in energy supply prices, is now a reality. What will the future bring in our field in the coming months? What will be the scenario once the difficulties are over sometime late 2009 or early 2010? How best to re-position investments, and plan for the recovery and the up swing after the crisis?

The recent price crisis caused by reduced demand from the major producing countries which have seen production decreases because of the world’s economic situation has definitely highlighted the difficulty of forecasting demand.

Egypt as one of the pioneers in oil activities and certainly the leading country in Africa and in the Middle East, is well prepared to weather the storm and will be well positioned to take advantage of the new opportunities which will occur.

Throughout its long history of successes, the Egyptian oil industry has always reacted promptly, and effectively while at the same time looking ahead and planning long term.

We have always believed in the exchange of knowledge and encourage the gathering of operators and authorities for our international meetings in Alexandria and Ravenna.

Over fifty International Energy Companies are now very active in Egypt, and we expect this number to grow in the near future, as Egypt is a reliable and experienced partner. The world will continue to need more and more energy which will need to be accessible and affordable to both producers and consumers, to continue to guarantee investments and sustainability, Egypt will do its part.

It gives me therefore great pleasure to invite you to join the MInistry of Petroleum and Egyptian Petroleum Sector in Alexandria on the occasion of MOC 2010 - 6th Mediterranean Offshore Conference and Exhibition.

 

 

H.E. Eng. Sameh Fahmy
The Minister of Petroleum of the Arab Republic of Egypt