Gold prices in Egypt on July 3    Egypt's Qalaa Holdings Q1 revenues climb 134%, winning over global challenges    Egypt introduces first beach for visually-impaired guests in Alexandria    Egypt's athlete Basma Emad wins bronze in weightlifting in Mediterranean Games    Gold prices in Egypt on July 3    Saudi citizens could enter Schengen countries visa-free    Egypt's Petrojet returns to Libyan oil sector after 11 years    Cemex, VeryNile sign deal for Egypt's Nile River    NATO remarks Egypt's role in maintaining stability in Middle East and Africa    Congo needs Egypt's expertise to diversify its economy – FPI official    Dostarlimab drug cures rectal cancer patient 100%, trials show    Egypt: A royal train turns into a new tourism attraction    For the first time John Legend to perform in Egypt    Egypt discovers newly treasure trove of ancient artifacts at Saqqara Necropolis    Noura Al-Mutair – first Gulf female boxer in World Championships    Liverpool fans: "You'll Never Walk Alone" to Cristiano Ronaldo    Egypt to play key role in integrating water, climate issues globally – World Bank official    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Investment opportunities to enhance cooperation between Egypt, China
Published in Amwal Al Ghad on 07 - 11 - 2018

There are promising investment opportunities to develop cooperation between Egypt and China in the field of energy and in the oil and natural gas industry, according to Minister of Petroleum Tarek el-Molla.
The minister pointed out the availability of natural resources as well as human and technological potential in both Egypt and China that are capable of ensuring the integration of both sides and the expansion of joint oil investments.
This came during the speech delivered on the minister's behalf by deputy minister of petroleum for agreements and exploration, Ashraf Faraj, at the Sixth Arab-Chinese Conference.
Molla said that the ministry is looking forward to enhancing joint cooperation with the Chinese side in various fields of petroleum industry, such as petrochemical and fertilizer projects which have great economic returns, in addition to petroleum maintenance and engineering activities, oil and gas projects, and oil and gas exploration and drilling.
He referred to the importance of integration between both countries to provide various areas of investment with advanced technologies and trained technicians.
The minister underscored the partnership between the two sides since 2005 with Sinopec, HH and CHINA STAR GREAT DRAGON companies in the fields of drilling, manufacturing of strategic research and exploration equipment, in addition to Chinese companies engaged in oil and gas exploration in Western desert, including ZENAO and United Energy.
He stressed on Egypt's growing regional and global role in the field of oil and gas during the recent period in light of the outstanding results of the natural gas latest discoveries in the Mediterranean. He also highlighted that Egypt achieved self-sufficiency of natural gas and stopped importing liquefied natural gas.
Egypt stopped importing liquefied natural gas (LNG) during the fourth quarter of 2018 by adding 1.6 million cubic feet to its production from its latest gas discoveries, including West Delta's Taurus and Libra fields, as well as the Atoll and Zohr gas fields.
Molla added that the strategy of the Ministry of Petroleum aims to continue to achieve growth in Egypt's natural resources of oil and natural gas, attaining the highest return and value added from these resources.
The minister said earlier the strategy of the sector has three main axes: increasing and diversifying energy supply and demand management; achieving financial sustainability by addressing debt arrears, reforming the subsidy system and dealing with internal debt; and improving sector management and structural reforms and encouraging private sector investments through supporting legislation such as the Gas Market Regulatory Act.
Source: Egypt Today

Clic here to read the story from its source.