Egypt in talks with Russian Zarubezhneft for oil, gas joint projects

The Egyptian government is discussing cooperation with Russian state-owned oil firm Zarubezhneft in oil and gas joint projects.

Zarubezhneft is a Russian state-controlled oil company based in Moscow. It reserves estimation to oilfield development projects and investment programmes preparation.

Egypt’s Minister of Petroleum Tarek El-Molla has met Wednesday with a delegation from Zarubezhneft officials in the presence of Russian ambassador to Cairo and Egyptian Commercial Service Office (ECS).

Zarubezhneft’s chairman has showcased the company’s different activities in exploration, development, and operation of oil and gas fields.

The Russian official further stated that that Zarubezhneft Company has expanded its projects in Vietnam, Cuba, Uzbekistan, and Croatia.

Minister of Petroleum El-Molla has confirmed that Egypt and Russia have unique relations in the field of oil and gas.

El-Molla has also stated that Zarubezhneft has a good opportunity to launch investments and build joint projects in the field of exploration, discovery, and development.

He has further stressed that the outstanding political and economic bilateral relations would give a push to more successful oil partnerships.

El-Molla and Zarubezhneft officials agreed on holding another meeting including experts from the two countries for cooperation during the next period.

Mohamed Moenes, Egyptian Undersecretary for Oil Minister’s Gas Affairs Office, Ashraf Farag, Geologist and Under Secretary for Agreement, and Diaa Kassem, EGPC’s General Manager Follow-up of Reservoir Behavior, attended the meeting as well.