Egyptian oil min. meets with several counterparts on sidelines of IEF

CAIRO - 12 April 2018: Petroleum Minister Tarek el-Molla held a series of bilateral meetings with a number of his counterparts on the sidelines of his participation in 16th International Energy Forum (IEF) Ministerial Meeting held in New Delhi.

On the sidelines of the 2nd day of the three-day event, Molla discussed with Saudi Minister of Energy, Industry and Mineral Resources Khaled al Falih the Egyptian-Saudi cooperation in the field of petroleum and mineral resources, according to a press statement released by the Ministry of Petroleum on Thursday.

Molla asserted that there are many new aspects of cooperation between Egypt and Saudi Arabia during the coming stage especially in relation to seismic tomography in the area of the Red Sea to support Egyptian efforts to start digging for oil in the Egyptian territorial waters.

Both sides agreed on arranging a visit between the Egyptian oil companies and the Saudi companies working in the fields of oil and mining.

Molla and Falih discussed preparing for inking a memorandum of understanding on cooperation in the domains of oil and mining.

They also tackled boosting cooperation between the companies working in the field of petrochemical industry.

Falih asserted the importance of boosting cooperation with Egypt in the field of oil industries, urging Saudi investors to invest and implement projects in Egypt.

A Saudi delegation comprising mining companies will visit Egypt to discuss opportunities to extend the horizons of cooperation in this promising field, Falih said.

Also, Mulla discussed with Algerian Energy Minister Mustapha Guitouni means to open new cooperation horizons in the field of oil and gas industries.

Mulla, also, conferred with his Bahraini counterpart Sheikh Mohamed bin Khalifa Al Khalifa on opportunities available to boost cooperation between both countries in the domains of petroleum and gas.

Furthermore, Molla reviewed with his Indian opposite number Dharmendra Pradhan means to boost cooperation and benefit from the expertise of the Indian companies in the field of petrochemical industry in light of the plan set to expand Egypt's petrochemical sector.

Pradhan said that India is looking forward to opening new vistas of cooperation with Egypt in the field of natural gas in light of the quantum leap Egypt has achieved in the gas industry.