Staff report: CAIRO, July 9, 2018 - President Abdel Fattah El Sisi has given directives for the overall development of the petroleum sector with special emphasis on the sector's human resources and the provision of the atmosphere deemed necessary for the attraction of investments in oil and gas exploration activities. The president's directives came during his meeting Monday with Prime Minister Dr Moustafa Madbouli, the Assistant to the President for National and Strategic Projects, Sherif Ismail, Petroleum Minister Tarek el-Mulla, Planning Minister Dr Hala el-Saeed, Finance Minister Mohamed Maeet and the head of the Administrative Control Authority, Mohamed Erfan. In these directives, President Sisi placed emphasis on the importance of raising the efficiency of petroleum sector staff, developing their skills and optimally benefiting from the capabilities of the sector's cadres and expertise, the Spokesman for the Presidency, Ambassador Bassam Radi, said in a statement following the meeting. The president stressed in this context the importance of applying a modernised system for the management of human resources and the creation of such a work environment that motivates workers and encourages innovativeness, Spokesman Radi said. President Sisi also called for the adoption of whichever measures deemed necessary for ensuring the availability of such an atmosphere that would be conducive to the attraction of more investments in search and exploration activities, thereby contributing to the expansion of oil and gas exploration areas and turning Egypt into a regional hub for the trade and exchange of oil and gas, Spokesman Radi said. Action and measures to this effect, President Sisi said, would also contribute to pushing forward the country's current comprehensive development plan. The government plan to upgrade the petroleum sector was put for consideration in the discussions, Spokesman Radi said, adding that that plan aims at comprehensively modernising the activities of the oil and gas sector with a view to optimising the sector's contribution to the developmental process especially through promoting more efficient functioning, attracting more investments, developing the skills of human cadres and improving their performance. For his part, Petroleum Minister el-Mulla outlined to President Sisi the stages of the upgrading and modernisation plan for the petroleum sector and its technical, commercial and political aspects. The petroleum minister also highlighted programmes and projects now under way within the framework of the plan, which includes the intensification of exploration operations in co-operation with giant global companies in addition to the implementation of human development programmes. Minister el-Mulla also said that the petroleum sector's upgrading plan would lead to raising the production rates, reducing production costs and increasing the added value of oil products. The plan, he added, would also contribute to boosting the country's economic growth, reducing financial deficit, increasing revenues, improving the capability to compete internationally and ensuring the sustainability of the energy sources' capacity to meet local demand.
