How to lure investments to the petrochemicals and refining industries?
For the refining industry, incentives should be made to encourage more investments. As for the petrochemicals, the type of incentives needed is to provide lands with the BOT system and set appropriate prices for the final products. What are the promising E&P areas in Egypt? The Western Desert and Gulf of Suez are the most promising E&P areas in the country. However, we should reconsider the areas where E&P operations are restricted, whether for environmental or touristic reasons, as these areas are very rich in oil and gas. Nowadays’ exploration and drilling technologies work closely to avoid any possible harms to the environment, therefore we find an area known for its touristic activities and at the same time E&P operations are taking place. It is the role of the Supreme Council of Energy in association with the scientific organizations to study the possible exploitation of these restricted areas without polluting the environment or decreasing the touristic activities. How accurate a
