The sixth session of Egypt Petroleum Show (EGYPS), one of the leading oil expos in the Middle East and North Africa, kicked off on Sunday in the Egyptian capital Cairo with hundreds of exhibitors from around the globe.
The opening ceremony of the three-day expo was attended by Egyptian President Abdel-Fattah al-Sisi and leaders of global energy, oil and gas companies.
With over 500 exhibitors, the expo is expected to attract over 32,000 attendees to engage in dialogue, create partnerships, do business, and explore solutions and strategies that will reshape the global energy markets.
Speaking at the opening ceremony, Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla said EGYPS is a platform for exchanging views and presenting distinguished initiatives to support regional and global integration and cooperation in the field of oil and gas.
The minister revealed that Egypt’s oil exports increased in 2022 to reach 18.2 billion U.S. dollars, in addition to achieving a surplus in the oil trade balance for the third year in a row.
The total investments in Egypt’s oil and gas sectors from 2014 to 2020 hit 74 billion U.S. dollars, according to the Egyptian Ministry of Petroleum and Mineral Resources.
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.