Minister of Petroleum and Mineral Resources Tarek El Molla and Giuseppe Pedretti, Regional President for the Middle East and North Africa for Petronas, witnessed the signing of a cooperation protocol between Cooperation Petroleum Company (Copetrole) and Petronas Egypt Lubricants Company.
The agreement will support the opportunities available for joint cooperation between the two companies in Egypt to exchange expertise and exploit the capabilities of each party in a way that meets their mutual interests.
The protocol was signed by Nasser Shouman, Copetrole’s Chairman, and Roberto Miglio, Director of Petronas Egypt Lubricants Company.
According to the protocol, the two parties will also work to increase cooperation and exchange expertise in research and development, providing consultations on new investments and unifying the efforts made in the various sectors of the two companies’ activities.
This came after the meeting of El Molla, with Pedretti, and his accompanying delegation, which discussed ways to enhance cooperation and available investment opportunities, especially in the field of production and trade of petroleum products.
During the meeting, El Molla highlighted the importance of the successful partnership between the Malaysian company and Copetrole, represented by Petronas Egypt Lubricants Company, in order to achieve successes for both parties. He pointed out that the work environment in the petroleum products market in Egypt is full of unique investment opportunities and potential for development and expansion.
Meanwhile, Pedretti underscored Petronas’ deep commitment to the Egyptian market and its aspiration to position Egypt as a pivotal export hub for its products to neighboring countries and Africa. He emphasized the company’s unwavering dedication to providing cutting-edge technologies to produce high-quality products for both the Egyptian and global markets.