Asharq Al-awsat English Middle-east and International News and Opinion from Asharq Al-awsat Newspaper

Egypt Seeks Larger Role in Africa's Oil, Gas Sectors

Egypt Seeks Larger Role in Africa's Oil, Gas Sectors

Thursday, 13 February, 2020 - 12:45
Egyptian Petroleum Minister during the signing of one of the agreements on Wednesday, February 12, 2020 (Asharq Al-Awsat)
Cairo- Asharq Al-Awsat

A Memorandum of Understanding (MoU) was signed on Wednesday between Egyptian Petroleum Minister Tarek al-Mulla and his Somali counterpart Abdirashid Mohamed Ahmed.

Both sides signed the MoU on the second day of the Fourth Edition of the Egypt Petroleum Show “EGYPS 2020,” held in Cairo.

It aims at supporting and enhancing bilateral cooperation in the field of oil, gas, and mineral resources, as well as transferring Egypt’s expertise in these areas to Somalia.

The signing of such agreements supports efforts to develop cooperation between Egypt and African countries by investing Egyptian expertise in the petroleum industry to serve industrial development efforts in the continent, Mulla explained.

He said it also contributes to opening new fields of work for oil sector companies abroad.

Mulla also signed two MoUs to implement oil projects in Equatorial Guinea, through “Petrojet,” the executive arm of the Egyptian oil sector.

According to the MoU, Petrojet will work for the first time in Equatorial Guinea and implement new petroleum projects, mainly the petroleum refining project.

In other news, Mulla attended the signing of a technical cooperation agreement between the Egyptian General Petroleum Corporation (EGPC) and the Chilean National Petroleum Company (ENAP) that expires in October 2022.

The event was also attended by Chilean Ambassador to Egypt Pablo Arriaran.

The agreement aims at bolstering cooperation in the field of exchanging technical expertise on the exploration and development of hydrocarbons in the basins in which the Chilean company operates.

It also targets exchanging information and expertise in the field of non-traditional tanks, in addition to supporting the vision on occupational health and safety standards.

Egypt also signed on Wednesday seven agreements to support and increase cooperation with a number of major US and British oil companies and financial institutions.

Mulla and the US ambassador to Cairo, Jonathan Cohen, attended the signing event between the Ministry of Petroleum and Mineral Resources and the US Trade and Development Agency.

The agreement aims to further enhance bilateral cooperation in the field of developing the oil sector, especially with regard to developing infrastructure for the energy sector in Egypt and increasing the private sector’s participation.

Editor Picks