French-based engineering company Technip Energies has engaged in talks with Egypt’s government to establish a new company with two Egyptian firms, Enppi and Petrojet, to execute major projects and export engineering and contracting services.
Karim Badawi , Egypt’s Minister of Petroleum and Mineral Resources, held a meeting with a high-level delegation from Technip Energies, which included Marco Villa , Senior Advisor to the Group CEO; Carlo Ignazio Spadavecchia , Executive Project Sponsor; and Francesco Cammarata , General Manager of Egypt’s branch.
Villa went over the alliance’s pillars, which include the transfer of advanced technology, achieving integration by leveraging the local assets of Enppi and Petrojet, and providing financial solutions through international credit agencies.
Badawi highlights that the alliance aims to establish a flexible entity capable of executing front-end engineering design (FEED) and engineering, procurement, and construction (EPC) projects with high efficiency and speed.
During this meeting, the executive steps for establishing a new company were reviewed. The new firm, once created, intends to execute projects both in Egypt and abroad.
Moves like this one are aligned with Egypt’s agenda to stimulate investment in hydrocarbon exploration and field development by drilling 586 oil and gas wells by 2030.
Technip Energies has won multiple new assignments, including a detailed engineering job for the first carbon capture and storage (CCS) project in the Gulf of Thailand.