Egypt and Ecuador Explore Joint Ventures in Oil and Gas Industry

Egypt and Ecuador Explore Joint Ventures in Oil and Gas Industry

By Staff Writer, 04 April 2024

Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, held discussions with Denys Toscano Amores, the Ecuadorian Ambassador to Cairo, in a bid to bolster cooperation between the two nations across the oil and gas industry.

El Molla emphasized the abundance of promising opportunities for collaboration between Egypt and Ecuador, particularly within the realm of oil and gas.

He underscored Egypt's readiness to engage in joint ventures spanning research, exploration, and production, leveraging the extensive expertise possessed by both sides.

Amores reciprocated the sentiment, lauding Egypt's pivotal role regionally and globally while highlighting the robust bilateral ties and mutual respect.

He expressed Ecuador's keenness to partner with Egypt, citing the latter's rich experience in oil and gas research and exploration, particularly in offshore areas.

Furthermore, Amores indicated Ecuadorian oil companies' interest in exploring investment prospects in Egypt's oil and gas sector.

The discussions also delved into the forthcoming signing of a memorandum of understanding between the Egyptian Ministry of Petroleum and Mineral Resources and the Ecuadorian Ministry of Energy and Mining, encompassing collaboration across various domains.

The meeting broached the prospect of Ecuador tapping into Egyptian expertise in delivering natural gas to households, transitioning vehicles to utilize gas, and establishing compressed natural gas (CNG) refueling stations.

Source: Sarah Samir / Egypt Oil & Gas

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