Egypt, UAE discuss petroleum cooperation
Minister of Petroleum and Mineral Resources Karim Badawi received Sheikh Mohammed Saeed Al-Dhanhani, Head of the Government of Fujairah in the United Arab Emirates, and his accompanying delegation at the ministry’s headquarters in New Alamein.
During the meeting, they discussed ways to enhance petroleum cooperation and explore available investment opportunities in both countries to achieve mutual interests.
Badawi emphasized the strong and long-standing relationship between Egypt and the UAE.
He noted that both countries have advanced infrastructure, especially in fields of petroleum storage and handling, which he witnessed during his recent visit to Fujairah Port in the UAE.
The minister pointed out that there are new expansions currently underway at Al-Hamra Petroleum Port area on the Mediterranean coast, and there is potential for cooperation and integration between the two countries to utilize these facilities and infrastructure in these fields.
He further mentioned that Egypt benefits from the presence of international petroleum companies operating in the production and handling of petroleum products, which contributes to accelerating cooperation and joint projects in these areas, in addition to enhancing Egypt’s role as a regional energy hub.
Badawi disclosed that the meeting also discussed ways to benefit from the successful experiences and expertise in these fields and to train human resources in both countries.
“Egyptian companies Enppi and Petrojet have had successes in designing and implementing large projects in the UAE, and they look forward to increasing their participation in new projects there in the upcoming period,” Badawi said.
For his part, Al-Dhanhani emphasized the fraternal relationship between the two countries at the level of political leadership and the peoples.
He highlighted the importance of cooperation between the two countries and building on the successes achieved in the fields of petroleum storage and handling, and ship refueling in both countries, especially since the UAE has the second largest port for storing and handling petroleum products in the world with advanced infrastructure. Additionally, Egypt has Al-Hamra Petroleum Port, which is currently undergoing new expansions. The exchange of expertise between the UAE and Egypt in these fields can be highly beneficial.
At the end of the meeting, it was agreed to form a joint working team that will maintain constant communication to review and study the available investment opportunities in both countries. There will be a clear organizational path for implementing the projects that are agreed upon.