Egypt, Saudi Arabia explore ways to enhance collaborative efforts in energy sector
Date
7/22/2024 3:09:36 AM
(MENAFN) Eng. Karim Badawi, Minister of petroleum and Mineral Resources, and Dr. Mahmoud Esmat, Minister of Electricity and renewable Energy, conducted a joint meeting with Prince Abdulaziz bin Salman, Minister of energy for Saudi Arabia, at the Ministry of Energy's headquarters in Riyadh. The purpose of the meeting was to explore ways to enhance collaborative efforts in the energy sector.
The Minister of Petroleum and Mineral Resources emphasized the strong partnership and exceptional relationship between Egypt and Saudi Arabia, which has spanned decades across various fields, particularly in energy.
During the meeting, the energy strategies of both nations were reviewed, and key actions and procedures undertaken to diversify the energy mix and address the challenges in the energy sector were discussed, all within the framework of ensuring sustainable and reasonably priced energy sources.
Eng. Karim highlighted the ministry's priorities, which include increasing production, accelerating exploration activities, and utilizing available capacities in refineries and petrochemical plants. He stressed the importance of strengthening cooperation with Saudi Arabia and other allied nations, as well as the significance of exchanging experiences and sharing success stories to enhance integration between the two countries and maximize the value of natural resources. There was a consensus on the need to develop action plans with realistic and comprehensive solutions based on economic principles to ensure sustainability, while continuing to invest in human resources, build capacities, develop young talents, and empower women.
Additionally, it was agreed that optimal utilization of petroleum resources should be achieved with consideration for environmental factors. The discussion included expanding carbon reduction programs and initiatives, such as improving energy efficiency and enhancing the value of carbon through modern technologies and innovative uses, including enhanced crude oil production.
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