Saipem, Egypt’s Modern Drilling sign MoU to boost oil and gas cooperation

Italy’s Saipem and Egypt’s Modern Drilling Company (MDC) signed a memorandum of understanding on Tuesday to strengthen cooperation in the oil and gas sector and explore further partnership opportunities.

The agreement provides for the exchange of technical and technological expertise and aims to strengthen ties between Egyptian and international companies operating in the sector.

The MoU was signed on the sidelines of the Mediterranean Offshore Conference and Exhibition (MOC 2026), held at the Bibliotheca Alexandrina from Oct. 20 to 22, in the presence of Petroleum and Mineral Resources Minister Karim Badawi.