Senior officials from Egypt and Russia held talks on Wednesday to boost cooperation in the sector of oil and natural gas, the Egyptian official MENA news agency reported.

During the meeting on Wednesday, Egyptian Minister of Petroleum Sameh Fahmi and Russian Minister of Energy and Industry Viktor Khristenko discussed their countries’ plans to face the problem of growing oil prices in world markets.

Fahmi said after the meeting that their talks tackled benefiting from the Russian expertise in manufacturing oil exploration equipment.

They also probed the activities of the Russian oil companies in Egypt, said Fahmi.

According to MENA, Russia’s LUKOIL and NOVATEK companies are exploring for oil and natural gas in Egypt’s Gulf of Suez and the Western Desert.

In addition, the two ministers reviewed preparations for an upcoming meeting of gas exporting countries set to take place in Russia by the end of this year.

(Rigzone)