Petroleum Minister Tareq el Mulla discussed with Azerbaijani Ambassador in Cairo Elkhan Polukhov means of boosting bilateral cooperation and available investment opportunities in the oil, gas and green energy fields.
In statements on Tuesday, the minister underlined the historical ties and cooperation of Egypt’s petroleum sector with the State Oil Company of the Republic of Azerbaijan (SOCAR) in the fields of crude oil and refining.
He further noted that the petroleum sector has distinct manufacturing facilities for supplies and equipment, in addition to the extensive expertise gained by the Egyptian oil companies in recent years in designing and implementing important projects inside and outside Egypt.
He also underlined the possibility of these companies’ contribution to oil and gas projects in Azerbaijan.
The minister reviewed the projects being implemented in Egypt in the field of petrochemicals and the investment opportunities available in the petroleum sector.
For his part, the Azerbaijani ambassador said that his country possessed great expertise in the oil, gas and green energy domains, saying it is ready to exchange expertise with Egypt.
Azerbaijan, like Egypt, exports natural gas to Europe, and seeks opportunities to beef up its exports, the diplomat added.
He underlined that Azerbaijan is seeking to build Liquefied natural gas (LNG) plant, benefiting from the great Egyptian expertise in this regard.
They also discussed holding meetings between the two sides to set the stage for the signing of memorandum of understanding to boost bilateral cooperation in these fields.
Source: State Information Service Egypt