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FinancialNews
27-07-19
Egypt inks oil agreement with U.S.
(MENAFN) Egypt penned a memorandum of understanding with the United States for the two sides to join hands on field of oil and gas.
Under the agreement, Egypt and the U.S. will ease the sharing of technical knowledge, consultancy services and the transfer of technology regarding oil and gas exploration, output and refining alongside petrochemicals.
It comes as Egypt set a target to transform into a regional hub for the gas industry when it comes to liquefied natural gas (LNG) trade.
Over the past years, Egypt achieved significant gas discoveries covering Zohr gas field, which presents a capacity of around 30 trillion cubic feet.
MENAFN2707201900450000ID1098810662
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