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Egypt, UK Sign New Agreement in Gas Sector

Tuesday 25 September 2018 02:05 PM

Minister of Petroleum Tarek El Molla
Minister of Petroleum Tarek El Molla

The state oil company of Egypt has signed on Monday an agreement with the British company Wood Group for a technical and engineering association in exploration and production of natural gas through deep water drilling.

The Egyptian Ministry of Petroleum reported in a statement that the signing of the agreement was witnessed by the Minister of the sector, Tarek El-Molla; the United Kingdom Ambassador in Cairo, Geoffrey Adams; and the British commercial envoy, Jeffrey Donaldson.

After the signing, El-Molla said the agreement aims to transfer technology and expertise needed between the two sides to undergo engineering work for the exploration and drilling of natural gas deep in the ocean.

Egypt is continuing to move forward with the execution of megaprojects for the development and production of natural gas in the Mediterranean Sea, the Minister added.

He also described the contract as a further step in the extended cooperation between Egypt and the United Kingdom in the production of natural gas through several models successfully developed in gas fields discovered in the Mediterranean.