Spain, Egypt in talks to increase oil and gas joint projects

Egypt and Spain will cooperate to launch new investment opportunity in oil, natural gas, and petrochemicals projects within the next period.

This comes after Egyptian Minister of Petroleum, Tarek El-Molla met on Monday with Arturo Avello Díez del Corral, ambassador of Spain in Cairo, to discuss ways to promote the bilateral cooperation between the two countries in oil and gas sectors.

El-Molla has further declared that Egypt has many projects in different oil activities which are considered attractive opportunity for Spanish firms to invest in.

Egypt is considered an important gateway to enter African and the Middle Eastern markets, according to the minister.

The Egyptian Ministry for Petroleum is recently setting up intensive programmes for oil and natural gas explorations and field development.