Egypt & Kuwait Discuss Boosting Cooperation in Oil Field

Petroleum Minister Tareq el Molla discussed in a meeting with CEO of Kuwait Petroleum Corporation (KPC) Nizar Mohammad Al Adsani ways of boosting bilateral cooperation and available investment opportunities in the Egyptian oil market.

During the meeting, el Molla asserted the historic and strong relations binding the two countries at all levels, notably the economic ones.

Also, the two sides have reviewed the available investment opportunities in a number of projects, including Egypt's national project to turn the country into a regional hub for energy trade and a project to expand the activities of the Arab Petroleum Pipelines Company (SUMED), the Petroleum Ministry said in a statement.

For his part, Al Adsani congratulated the Egyptian minister on the inauguration of the first stage of production at the super-giant Zohr gas field, hailing the efforts exerted by the ministry and its affiliated companies to implement the project in a record time, the statement added.

The Kuwaiti official shed light on the importance of transferring Kuwait crude oil via SUMED, which in turn help achieve high revenues for the two sides and realize the KPC strategic goals for 2030.