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Ministry of petroleum Signs Three MoUs for Oil & Gas Developments

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20-02-2022 General 166

Egyptian Minister of Petroleum and Mineral Resources Tarek Molla has witnessed the signing of three memoranda of understanding (MoUs) during the first day of the EGYPS 2022 with a number of international companies aiming at developing the oil and gas sector, the Ministry of Petroleum and Mineral Resources announced in a statement.

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The first MoU that was signed was between El Molla and the Yemeni Minister of Oil and Minerals Abdulsalam Baaboud in the fields of petroleum, natural gas, and mining. This MoU aims to exchange scientific, technical, and technological expertise in the oil and gas field as well as explore partnerships with specialized petroleum companies to design and build petroleum projects in Yemen; in addition to developing the institutional framework and organizational structure in the Yemeni petroleum, natural gas, and mining sector.

Also, El Molla and his Nigerian counterpart Chief Timipre Marlin Sylva have witnessed the signing of a memorandum of understanding (MoU) between the Egyptian firm Sidi Kerir Petrochemicals Company (SIDPEC) and Rangas Nigeria. The agreement that was signed by SIDPEC Chairman and CEO Mohamed Ibrahim and the CEO of Rangas Nigeria will involve the construction of a complex for petrochemical production in Nigeria in light of SIDPEC’s well-known expertise in this regard. SIDPEC will contribute to providing technical support throughout various stages of the project.

The third MoU that was signed between the Egyptian Ministry of Petroleum and Mineral Resources and Apache Corporation to boost future cooperation to develop Khalda Petroleum Company and Qarun Petroleum Company. This MoU aims to enhance government policies, improve human resource systems, build cadres, and support digital transformation to meet international best practices; after the merger of the two companies in a unified commitment agreement in December 2021.

(Egypt Oil and Gas)

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