Sinopec Evaluating Projects in Egypt

Sinopec Evaluating Projects in Egypt

The Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, met with Sinopec’s Vice President, Ling Yiqun, to discuss joint cooperation and investments opportunities in Egypt’s hydrocarbon sector, Egypt Oil & Gas reports.

Noting Sinopec’s expertise, El Molla urged the Chinese company to continue to invest in Egypt’s hydrocarbon market.

For his part, Yiqun expressed the company’s interest in expanding its investments in Egypt and said that Sinopec is currently evaluating several promising petroleum projects in the country.

He also invited El Molla to visit Sinopec’s refineries and petroleum facilities in China to observe the company’s implementation of modern technology.

In 2005, Sinopec established a joint venture, Sino Tharwa, with Tharwa Petroleum Company to support oil- and gas-exploration companies. Then in 2013, Sinopec purchased a 33% stake in Apache’s oil and gas operations in Egypt.

The Heads of the Egyptian General Petroleum Corporation (EGPC) and Egyptian Petrochemicals Holding Company (ECHEM), Abed Ezz El Regal and Mohame Safaan, also attended the meeting.

Sarah Samir 2752 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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