The Minister of Petroleum and Mineral Resources, Tarek El Molla, discussed with the Hungarian Ambassador to Egypt, András Kovacs, ways of cooperation in the oil and gas sector, according to a press release.

This came in the light of the Memorandum of Understanding (MoU) in energy, which was signed between the two countries at the beginning of October to boost the bilateral relations.

During the meeting, El Molla affirmed that the success achieved by Egypt lately in the petroleum sector attracted giant international companies to operate in Egypt.

Additionally, El Molla welcomed Hungary’s readiness to send a delegate of experts and companies’ chairmen to Egypt for finding ways of cooperation and available investment opportunities. He also referred to the virtual meetings which have been conducted in the past period between the working teams of the two sides to define the working priorities.

For his part, Kovacs confirmed the European Union (EU) interest in diversifying the energy resources, adding that the Hungarian companies are interested in investing in Egypt’s petroleum industry and presenting scholarships for Egyptian students.