Egypt agrees to organize international oil conference
Egypt-Regional, Economics, 7/14/2001

Egyptian Oil Minister Sameh Fahmi Thursday said that Egypt had agreed to organize an international conference on oil in October of 2002.

The conference, to address issues pertaining to oil and natural gas in the Mideast and Africa, is the first ever to be hosted by Egypt in this field.

The conference will be organized in cooperation with five world oil organisations.

After meeting with representatives of these organisations, Fahmi said that the conference would back Egypt's investments in the oil industries field.

"The conference aims at shedding light on the technical aspects in the exploration and production of oil and natural gas in addition to the commercial sides of the oil industries in the Mideast and Africa within the coming ten years," Fahmi said.

He said more than 3,000 experts working in the petroleum and natural gas fields in addition to 100 global companies would attend the conference to show case the state-of-the-art technology in the oil industries field at the exhibition to be held at the sidelines of the conference."

Fahmi stressed the necessity of holding that conference to make the world get acquainted with what Egypt was witnessing of an upsurge in oil and gas sectors.

"This would help lure international investments to participate in developing, attracting and establishing integral industry of petrochemicals and other industries based on gas," he added.

Fahmi pointed out that holding that conference in Egypt mirrors the distinguished history of the Egyptian oil industry that lasts for more than a century.

He added that Egypt is witnessing a gas-related rise due to recent gas finds that has led to the increase of Egypt's natural gas reserve to 53.5 trillion cubic meter.

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