Egyptian Minister of Petroleum, Tarek El Molla, signed a cooperation agreement on May 22 with the Egyptian Minister of Investments, Sahar Nasr, and the European Bank for Reconstruction and Development (EBRD), Al Ahram Gate reported.

EBRD had received a request in January from the Ministry of Petroleum to provide technical assistance and support the new structure of the oil and gas sector, Egypt Oil & Gas reported.

The assignment was expected to start during the Q2 2018 and last for four months, with a maximum budget of around $555,730.