Joint Talks, Minister of Energy & Kuwaiti Oil Minister

Eng. Sherif Ismail, Minister of Petroleum and Mineral Resources held bilateral talks with each of Dr. Youcef Yousfi, Minister of Energy and Mines of Algeria and H.E. Dr. Ali Saleh Al-Omair, Oil Minister and State Minister for National Assembly Affairs in Kuwait. The Talks dealt with the suggested areas of cooperation, in addition to the follow-up aspects of the current existing cooperation.

The minister pointed out that the session of talks with Algerian Energy Minister and the accompanying delegation addressed what was agreed upon during the joint meeting of the Egyptian-Algerian Higher Committee in Cairo, last November, as well as to identify practical steps to create a joint venture in the field of research, exploration and production of oil and gas to operate in Egypt, Algeria and abroad making use of the cadres of the two countries.

The two parties have also discussed studying the possibility of refining a mixture of crude Algerian crude in the Egyptian refinery and it was agreed to hold a meeting between officials of the Egyptian General Petroleum Corporation and Sonatrach to determine the executive steps of the agreement. Also, The two sides discussed importing liquefied natural gas from Algeria and follow up what has been reached between the officials of the EGAS and Sonatrach to supply 6 shipments of Algerian LNG during the period of April – till sept., 2015 & it was agreed upon to meet in Algeria by the end of this month to sign the agreement. In addition to discussing the ability of benefiting from the Algerian experience in the shale gas upstream domain.

Moreover, Sherif Ismail, Minister of Petroleum and Mineral Resources, also held talks with H.E. Dr. Ali Saleh Al-Omair, Oil Minister and State Minister for National Assembly Affairs in Kuwait and his accompanying delegation, where he reviewed the areas of cooperation between the two countries in the oil fields and the current situation of cooperation with Kuwait Petroleum Corporation in the field of crude supply and petroleum products, whereas the company intends to supply 3 million barrels of crude oil per month, in addition to 1.2 million tons of gas oil per year and 120 thousand tons of jet fuel annually, with facilities in payment.

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