(MENAFN- Daily News Egypt) The Egyptian Minister of petroleum and Mineral Resources, Karim Badawi, met with a Romanian delegation on Wednesday to discuss ways to strengthen cooperation between the Egyptian petroleum sector and Romanian companies.
The delegation included Olivia Toderean, the Romanian Ambassador to Cairo, and Horatiu Horatiu Sebastian Calugar, chief executive of CIS GAS. Yassin Mohamed, managing director of the Egyptian Natural gas Holding Company (EGAS), and other officials also attended the meeting, as well as the ministry's official spokesperson.
During the meeting, Minister Badawi emphasised the potential for local manufacturing of equipment and supplies for the petroleum industry. He affirmed the ministry's commitment to providing full support for enhancing this cooperation, aiming to attract further investment from Romanian companies to the Egyptian market. Badawi also highlighted the promising opportunities within Egypt's petroleum sector, particularly in exploration and production, which he noted have seen considerable activity recently.
Ambassador Toderean noted that the relationship between Egypt and Romania is based on a long-standing friendship. She highlighted Egypt's numerous promising petroleum projects, which offer opportunities for continued cooperation between the two countries. The ambassador also pointed out that Romanian companies possess significant expertise and advanced technologies applicable to the oil and gas industry.
Calugar presented his company's successful projects in Romania and Eastern Europe. He noted the existing cooperation between CIS Gaz and the Egyptian company Town Gas. This collaboration involves manufacturing and assembling gas pressure reduction stations in Egypt using Romanian components. Calugar highlighted that Town Gas has been accredited by the Romanian Energy Regulatory Authority (ANRE) as a contractor for natural gas connection projects. This makes it the first Egyptian company to work in this field in Europe through its Romanian branch.
Calugar expressed a desire for further collaboration with Egyptian firms ENPPI and Petrojet, aiming to implement projects together in Romania. CIS Gaz is also seeking to offer its expertise in exploration and production services within Egypt.
In October, Egypt's natural gas distribution company, Town Gas, secured contracts to manufacture and deliver natural gas pressure reduction stations in Egypt and to connect homes and other facilities to the gas grid in Romania. The contracts, signed during the Romanian-Egyptian Joint Committee for Economic Cooperation and the Business Forum in Bucharest, mark the first time an Egyptian company will work in this field in Europe.
Mohamed Fathi, Chairperson of Town Gas, and Calugar, chief executive of CIS GAS, signed the agreements.
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