Amongst Egypt's challenges are to explore and develop their deepwater province in the Mediterranean Sea as well as to maximize their recovery from existing fields. The Egypt-Norway technology days can be seen as a response to both these challenges. Learning and accumulating experience is becoming increasingly important, and Norway's experiences with the operations of large gas fields in the North Sea tied back to shore, matches in many ways Egypt's needs.
In her opening speech H.E. Ingvil Smines Tybring-Gjedde referred to the significant contribution the oil and gas sector has to the Norwegian economy. Norwegian companies in oil and gas have today operations in 100 countries around the globe. 40 % of the revenues in the sector stems today from outside of the boarders of Norway. The sector will continue in decades to play an important role in the Norwegian economy contributing to job creation and revenue generation. It has also made it possible to establish the world largest souvereign fund.
She further pointed out that the drop of prices in oil and gas in global markets has imposed new challenges to the sector. Despite this, Norway sees that the Egyptian Zohr field creates great opportunities to the businesses in Egypt, but can also contribute to the Egyptian society as such in terms of economic activities, business establishments and jobs. She highlighted that the Norwegian industry has a lot to offer in technology that may be attractive to Egypt. Egypt is also a mature oil and gas nation, and she would like to see a cooperation of mutual benefits for the two countries.
Eng. Mostafa Helal, Deputy EGAS chairman for Planning and Projects is participating in the event alongside with the deputy minister of Norway. In his speech he emphasized on the importance on enterprise cooperation on deep sea service and supply of oil and gas exploration.
The Ambassador of Norway, Sten Arne Rosnes pointed out that Norway has become a global leader in offshore exploration. The government of Norway will assist Norwegian companies in the Egyptian markets. The ambassador also highlighted that the bilateral relations between Egypt and Norway are good and we expect stronger economic cooperation between the two countries.
A business delegation comprising of some 22 Norwegian companies participates in the event alongside with Egyptian oil and gas companies and representatives from the government of Egypt and Norway.