Investment firm Carlyle Group plans to make significant investments in Egypt’s oil and gas industry to boost domestic production and turn Egypt into an energy hub in the Mediterranean. Executives from Carlyle met this week in Egypt with Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, to discuss the investment firm’s plans for Egypt and the Mediterranean after Carlyle announced an acquisition of assets in the region last week.
The portfolio which Carlyle is buying includes interests in Cassiopea, Italy’s largest gas field in terms of reserves, and Abu Qir, one of the largest gas-producing hubs in Egypt.
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