Egypt signs 5 MoUs with int'l companies on carbon emissions reduction, digital transformation

CAIRO - 13 February 2023: Egypt’s Minister of Petroleum, Tarek El-Molla witnessed the signing of five memorandums of understanding (MoU) and cooperation agreements between the petroleum sector and major global energy and technology companies.

 

The MoUs and agreements aim to boost bilateral cooperation in the fields of reducing carbon emissions, digital transformation, supporting sustainability and crude oil marketing.

 

The agreements were signed on the sidelines of the Egypt Petroleum Show (EGYPS 2023).

 

A MoU between the Petroleum Ministry and Chevron Corporation capacity

 

A memorandum of understanding was signed between the Ministry of Petroleum and Mineral Resources and Chevron Corporation to cooperate in capacity-building and exchange the best practices for low-carbon projects, including those related to controlling methane emissions.

 

A joint marketing agreement between the Egyptian General Petroleum Corporation (EGPC and Apache

 

An agreement was signed between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation in Egypt (Khalda Petroleum Company and Qarun Petroleum Company) to export Egyptian crude to the international market.

 

The deal was signed by EGPC chairman Alaa el-Battal and David Chi, Region Vice President and General Manager of Apache Corporation, in the presence of CEO and President of Apache John Christmann.

 

Two MoUs between EMGF, IEF and the Mediterranean Energy Observatory

 

Two memorandums of understanding were also signed by the Eastern Mediterranean Gas Forum (EMGF), the International Energy Forum (IEF) and the Mediterranean Energy Observatory. 

 

The MoU signed by the EMGF with the IEF will advance cooperation frameworks to enhance regional dialogue on supporting the sustainability and resilience of global energy markets.

 

This will take place through cooperation in four main areas, including gas market security and sustainability policy, investment researching, trade and innovation trends in the gas sector,  and supporting the construction of the hydrogen network, in addition to the role of gas in energy transformation.

 

As for the one signed with the Mediterranean Energy Observatory, it aims to enhance cooperation in energy issues and accelerate the transition to clean energy in the Mediterranean region.

 

This will be done by facilitating the exchange of knowledge, information and best practices in energy issues, carbon-free gas production and technologies, financing frameworks, as well as human capacity building and training.

 

A MoU between the Petroleum Ministry and IBM to support digital transformation

 

The Ministry of Petroleum signed a memorandum of understanding with the global company IBM, according to which the advisory services provided by the leading technology company in the field of digital transformation and sustainability will be used in support of the endeavors of companies operating in the oil and gas industry in these areas.