Minister of Petroleum and Mineral Resources Tarek el-Molla said the petroleum sector’s contribution to societal development ventures amounted to more than EGP 2 billion over the past five years.
In statements Tuesday, during a meeting of Canada-Egypt Business Council (CEBC), chaired by CEBC Chairman Eng. Motaz Raslan, the minister said a new strategy is being devised, with a view to prompting the participation of the petroleum sectors’ affiliated companies in societal development spheres.
Molla said all the sector’s societal-related allocations are an essential part of incorporated policies in this regard.
He cited education, training, economic development, health, environment, gender equality , along with taking part in presidential initiatives as key pivots covering the sector’s societal development-oriented scheme.
The petroleum sector has more than 120 companies that have marked societal contributions in response to needs of the local areas where they operate, noted the minister.
Molla pointed out that the petroleum sector succeeded in luring investments worth of 74 bn in the period between 2014-2021.
A number of petroleum officials and heads of giant world petroleum corporates
took part in the meeting among others.