The meetings follow the signing of co-operation agreements between the French utilities and QPI in January to investigate the development of projects, including gas and nuclear deals.

Ibrahim Ibrahim, vice-chairman of QPI, tells MEED it is now considering investments in the power sector alongside the company’s traditional focus on oil and gas. He says such investments could provide strong economic returns.

“We have established a priority area for power,” says Ibrahim. “From our analysis, we found some investments in power that were very profitable and some that were not, in other countries.”

“We want to look at investments that could later be useful to our gas industry. We want, to a certain extent, to stay away from distribution in gas where it is a little bit complicated, but we do not mind investing in power. But it has to stand on its own and it has to be profitable.”

Edouard Dahome, head of EDF Middle East, tells MEED a series of meetings will be held in early June with QPI to build on the initial protocol agreement.

“It is a very open memorandum of understanding and we will be looking to develop further areas to focus on,” says Dahome.

GdF declined to comment on whether it is holding talks with QPI.