Memorandum of Understanding between Egypt and Oman in the field of oil and gas

Cairo 04-09-2019 / WAM
The Arab Republic of Egypt and Oman signed today a memorandum of understanding to enhance cooperation in the field of oil and natural gas and exchange of expertise and technologies in addition to cooperation and investment in various fields of oil and gas industry.
The signing ceremony was witnessed by Egyptian Minister of Petroleum and Mineral Resources Tarek El Molla and Omani Ambassador to Cairo Ali Al Eisaei.
Following the signing, Al-Mulla said that the MoU will expand the framework of cooperation between the two countries, including various projects, especially in the field of storing storage, handling and transport of petroleum and gas products, and the field of research, exploration and production of oil and gas because of the expertise of the two countries in these fields and give greater importance to industries. Value Added.
For his part, the Omani ambassador explained that the MoU aims at boosting cooperation between the two countries in the fields of producing, storing and marketing oil and gas, attracting investments between them, transferring technology and exchanging expertise.
The memorandum aims to encourage the exchange of information, experiences and future prospects related to the field of oil and natural gas through strengthening partnership between government and private sector institutions in both countries, in addition to transferring technology, strengthening institutional expertise and capacity building, as well as exploring investment opportunities in the fields of oil and gas exploration and industrialization. And storage and marketing of crude oil, natural gas, liquefied gas and petroleum products between the two countries.
It also aims at technical cooperation, organizing training courses, exchanging expert visits, organizing seminars, workshops, scholarships and scholarships. It also supports cooperation in the refining industry, the establishment of storage warehouses, the manufacture of petroleum equipment, engineering and construction services for projects and the delivery of natural gas to homes and commercial and industrial areas in order to achieve the principle of added value.