صحافة بلادي صحيفة إلكترونية مغاربية متجددة على مدار الساعة تعنى بشؤون المغرب الجزائر ليبيا موريتانيا تونس
Algeria –Egypt and Algeria signed a new memorandum of understanding aimed at enhancing cooperation in the energy sector, especially in the field of supplying the Egyptian market with Algerian crude oil, during an official visit conducted by the Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, to Algeria.
The visit witnessed the signing of an agreement between the Egyptian General Petroleum Corporation and the Algerian Sonatrach Company, in order to establish a cooperation framework related to purchasing Algerian crude and developing joint coordination in the fields of oil and gas.
The Egyptian Ministry of Petroleum confirmed that this step comes within the framework of Cairo’s efforts to secure the needs of the local market and enhance the stability of the energy supply system, in addition to supporting Egypt’s position as a regional center for energy trading.
The two sides also discussed opportunities to expand the economic partnership between the two countries, especially in industrial and infrastructure projects related to the hydrocarbon sector.
In a related context, Algeria witnessed the signing of a contract for the second phase of the “Hassi Bir Rkaiz” oil field development project, with an estimated value of approximately $1.1 billion, through an alliance led by the Egyptian company Petrojet in partnership with the Italian company “Arcade”.
The project includes the establishment of an oil processing station with a capacity of up to 32 thousand barrels per day, in addition to laying new pipelines and technical facilities in southern Algeria.
Officials in the two countries stressed that the new agreements reflect the desire of Cairo and Algeria to enhance regional integration in the energy sector and expand areas of joint investment and cooperation during the next stage.
Source:“My press”
