H.H. Dr. Sheikh Sultan bin Khalifa Al Nahyan, Advisor to the UAE President has met with Eng. Sherif Ismail, Egypt’s Minister of Petroleum and Mineral Resources.

The meeting comes within the framework of Sheikh Sultan’s visit to Egypt.

Sheikh Sultan and Ismail discussed the international petroleum market developments and bilateral cooperation between the two countries in the energy fields and joint investment as well as increase of petroleum investment in Egypt.

Sheikh Sultan said that Egypt is a strategic partner in various domains, stressing that the number of UAE’s energy companies operating in Egypt reflects the strength of bilateral relations.

He underscored that there are huge opportunities for UAE’s companies working in the oil field to invest in Egypt due to the attractive investment environment of the Egyptian market.

On his part, the Egyptian Petroleum Minister referred to the importance of continuous partnership and cooperation between the two countries, adding that the UAE invests in all petroleum sectors in Egypt.

He also affirmed the need to bolster cooperation to address global changes in the energy markets as well as the importance of coordination between the productive and consuming countries to achieve balance in the international petroleum market.

A number of officials attended the meeting, including the delegation accompanying Sheikh Sultan.

Source: The National