Egypt signs 4 MoUs with int'l companies to enhance oil cooperation

Minister of Petroleum and Mineral Resources Karim Badawi attended the signing of the MoUs at the Mediterranean Offshore Conference (MOC), which started Sunday and will continue until Tuesday, in Alexandria.

The MOC, held under the patronage of the petroleum ministry and in collaboration with IES Group and the Society of Petroleum Engineers (SPE), is a leading technical platform that links and addresses all regional energy activities, bringing relevant stakeholders to explore the vast energy potentials the Mediterranean region holds.

The agreements focus on enhancing key areas including operational safety, energy efficiency, decarbonization, and natural gas and hydrogen transportation. 

During the conference, the Egyptian Natural Gas Holding Company (EGAS) signed an agreement with the Greek company DESFA to study carbon capture and storage technologies.

Moreover, the Egyptian Natural Gas Company (GASCO) signed an MoU with DESFA to enhance cooperation in natural gas and hydrogen transportation; carbon dioxide capture, transportation, and storage; and sustainable energy between Egypt and Greece.

This includes exchanging expertise and technical knowledge regarding gas and hydrogen infrastructure and carbon dioxide and studying joint investment opportunities.