Prime Minister Dr. Mostafa Madbouly witnessed this morning at the government headquarters in the New Administrative Capital the signing ceremony of a Memorandum of Understanding (MoU) between the petroleum sector and the French company Total Energies for cooperation in natural gas exploration activities, covering a large area in the Western Mediterranean.

The signing ceremony was attended by Engineer Karim Badawi, Minister of Petroleum and Mineral Resources; Mr. François Cortex, Exploration Director for Total Energies in the Middle East and North Africa; and Mr. Jeremy Soule, Exploration Director for the Eastern Mediterranean.

The MoU was signed by Engineer Sayed Selim, Managing Director and CEO of the Egyptian Natural Gas Holding Company (EGAS), and Mr. Pascal Briand, General Manager of Total Energies in Egypt and Cyprus.

The Prime Minister affirmed the government's full support for efforts to attract more investment in exploration and production, through the facilities and incentives it offers to international partners. This will contribute to increasing the necessary investment to achieve new discoveries and develop existing fields, thereby boosting domestic production and reducing the energy import bill. He noted that his meeting with the heads of international oil companies during the Egypt International Energy Conference and Exhibition (EGYPS) included positive messages and assurances regarding the state's commitment to creating an attractive investment environment in this sector, encouraging partners to increase their investments in the oil and gas sector.