Egypt Expands Oil Cooperation By 4 New MoUs

Egypt has signed 4 memorandums of understanding (MoUs) and cooperation agreements with worldwide firms,  the Minister of Petroleum and Mineral Sources Karim Badawi introduced on Monday 21 October on the Mediterranean Offshore Convention (MOC) in Alexandria. 

The MOC, which runs from Sunday 20 October to Tuesday 22 October, serves as an essential platform for discussing regional power actions and exploring the Mediterranean’s huge power potential. 

The convention is organized beneath the patronage of the petroleum ministry, in collaboration with the Society of Petroleum Engineers (SPE).

The signed agreements intention to enhance varied points of power cooperation, together with operational security, power effectivity, decarbonization, and pure fuel and hydrogen transportation. 

One notable settlement was between the Egyptian Pure Fuel Holding Firm (EGAS) and the Greek firm DESFA, focusing on learning carbon seize and storage applied sciences, processes that contain the gathering of carbon dioxide from industrial websites earlier than it enters the environment. 

The settlement was signed by Yassin Ahmed, Govt Managing Director of EGAS, and Maria Rita, CEO of DESFA.

This partnership contains the change of technical experience and the exploration of joint funding alternatives, reinforcing Egypt’s place as a regional power commerce hub. 

Moreover, the Egyptian Pure Fuel Firm (GASCO) entered into an MoU with DESFA to boost collaboration within the transportation of pure fuel and hydrogen, in addition to in carbon seize and storage. 

GASCO additionally signed a cooperation settlement with the American firm BakerRisk, aiming to spice up operational security, power effectivity, and carbon discount by shared information and experience.

Lastly, the Egyptian Normal Petroleum Company (EGPC) signed an MoU with Shell to develop coaching applications for leaders in well being, security, and environmental practices.