Egypt’s Oil Minister confers with his Saudi counterpart on cooperation

Egypt’s Petroleum Minister Tarek el-Molla conferred on Sunday with his Saudi Arabian counterpart Khaled el Faleh on means of boosting joint cooperation in oil, gas, and mineral wealth fields.

The meeting took place on the fringe of the World Economic Forum held at the Dead Sea resort city in Jordan, a statement by the Petroleum and Mineral Resources Ministry said.

The two ministers exchanged views on opportunities of oil and gas exploration in the Red Sea and means of intensifying search and exploration operations in the coming phase.

Egypt has recently launched an international tender for new explorations in 10 areas in the Red Sea, added the statement.

The meeting also reviewed means of increasing activities of mining, exchanging information as well as working on implementing a strategy for the development of such vital sector which is one of the basic sources of economic revenues.

The two ministers also discussed the developments of the international oil market and exchanged views on expectations regarding international oil prices in the coming phase.

Meanwhile, Mullah and Minister of Investment and International Cooperation Sahar Nasr attended a session of talks with a number of Jordanian ministers on the fringe of the World Economic Forum.

The Egyptian and Jordanian sides reviewed arrangements for a meeting of the higher Egyptian-Jordanian Committee due to convene soon.

Source: MENA