The Egyptian Minister of Petroleum and Mineral Resources, Tarek el Molla, discussed with Japan’s Parliamentary Vice-Minister of Economy Trade and Industry, Masaki Ogushi, and accompanying delegation, means of boosting cooperation in the oil and gas field, as well as the new projects implemented in the fields of refining and petrochemicals, Egypt Oil & Gas reports.

El Molla highlighted the importance of strengthening the cooperation with Japan, particularly in the technology field and in implementing advanced petroleum projects. He further praised the historic economic and political ties with the Asian Country.

The Japanese delegation’s visit comes as part of a number of meetings which were planned to be held between the two countries following electing Egyptian President, Abdel Fattah El Sisi, as chairman of the African Union 31st session in 2019.

During the meeting, the minister and his guests reviewed the refining and petrochemical complex project to be established in the economic zone of the axis of development of the Suez Canal, and to be implemented by the Egyptian General Petroleum Corporation (EGPC) in cooperation with the Egyptian Petrochemical Holding Company (ECHEM) and Japan’s Toyota Tsusho.

The feasibility study of the new project is almost complete to be added to production, El Molla stated, adding that part of the complex’s production will be entitled to cover local market demands and the other parts will be exported to global markets.