Egypt, Oman deal to bolster cooperation in oil, natural gas

Egypt’s Minister of Petroleum and Mineral Resources Tarek El-Molla witnessed the signing of a memorandum of understanding (MoU) between Egypt and Oman to foster cooperation in the field of petroleum and natural gas.

The MoU included exchanging expertise and technologies in addition to cooperation and investment in manufacturing petroleum and natural gas.

The document was signed by the petroleum ministry’s undersecretary Mohamed Saafan and Omani Ambassador in Cairo Ali Al-Issaie, the Ministry of Petroleum said in a statement on Wednesday.

In press statements, el-Molla said the MoU was inked out of the distinguished relations binding the Egyptian and Omani leaderships and peoples, highlighting the support provided by President Abdel Fattah al-Sisi and Sultan Qaboos bin Said for bilateral fields of cooperation.

He hailed that cooperation between Cairo and Muscat in the fields of petroleum and natural gas is longstanding, citing Egyptian petroleum companies’ implementation of several projects in Oman.

The Omani ambassador lauded the MoU as “a natural extension” of the historic ties between the two countries.

It comes as an implementation of the deals reached during Sisi’s visit to Oman last year, Issaie added, noting that it aims to support cooperation between the two countries in the fields of producing, storing and marketing petroleum and natural gas.

Source: MENA