Minister of Petroleum and Mineral Resources, Tarek El Molla, met with Yvan Gil Pinto, Venezuelan Minister of Foreign Affairs, and the accompanying delegation, who is currently visiting Egypt to meet with a number of officials to discuss a number of common files in light of his country’s strong desire to deepen cooperation with Egypt in all fields.

During the meeting, potential cooperation opportunities between the two countries in the fields of oil, gas and petrochemicals, were reviewed.

The Venezuelan Minister remarked on the productive meetings he held with several Egyptian petroleum companies, highlighting the importance of reviving the joint Egyptian-Venezuelan committee and fostering collaboration with Egyptian petroleum firms, given the sector’s companies’ exceptional experience and expertise in engineering designs, petroleum project execution, and petroleum services.

Pinto highlighted that Venezuela’s current crude oil production stands at approximately one million barrels per day, with an ambitious plan to ramp up output to an impressive two million barrels per day, simultaneously expanding export capabilities. Amidst the country’s burgeoning economic recovery, petroleum projects are flourishing, creating a compelling demand for Egyptian technical, engineering, and administrative expertise in this dynamic sector.

Moreover, Pinto pointed out the possibility of expanding cooperation with the Egyptian side in the field of mining in light of his country’s possession of large untapped mining resources.

Meanwhile, El Molla highlighted the strength of the historical relations between the two countries, politically and economically, and the complete readiness of the petroleum sector to support and expand joint cooperation on the ground.

El Molla said that Egyptian petroleum sector companies have gained distinguished experience and qualifications during recent years in designing, implementing and managing major projects inside and outside Egypt at international professional levels.

Moreover, El Molla stated that the petroleum sector cooperated with the Venezuelan side in the past in implementing several projects and received more than 70 Venezuelan engineers for theoretical and practical training in Enppi training centers and is fully prepared to open channels and ways of cooperation again in all areas of petroleum work.