The development and good management of energy resources is a cornerstone of sustainable development, particularly in the coming period, which requires a new boom in the Egyptian economy to raise the standards of living in the society, said Minister of Petroleum and Mineral Resources Osama Kamal.

This came in Kamal's address at the opening ceremony of the 16th international conference, themed "Petroleum, Mineral Resources and Development" on Sunday 10/2/2013.

Kamal said an integrated energy strategy has been outlined, which, he added, calls for luring more investments to increase oil reserves and production and encourage the private sector to establish new oil refineries.

The set strategy also calls for diversifying energy resources in Egypt in cooperation with the bodies concerned, he added.

In addition, a national plan has been devised to rationalize the consumption of energy and ensure the delivery of subsidized energy to those who deserve it, the minister said.