Egypt

EGYPS 2020 Witnessed 29 Promising Agreements and MOUs

Published on : 2020-02-19

A total of 29 International agreements and memorandums of understanding (MOUs) had been signed in the course of the Egypt Petroleum Show (EGYPS 2020), which ended on Thursday, 13 Feb, 2020.

The Egyptian Ministry of Petroleum and Mineral Resources and affiliated corporations inked the deals during the 3-day show, reflecting superb capacity and promising opportunities of the Egyptian petroleum sector as well as self-belief of major worldwide companies in Egypt’s economy.

Many deals have been inked with Schlumberger, Italy’s Landi Renzo and Saipem companies, Shell Egypt, Canada’s Methanex Corporation, Germany’s Siempelkamp and Europe's Neptune Energy company.
Eight agreements were signed with Bechtel, Chevron, and British Petroleum (BP). Other cooperation deals have been signed with Chile, Somalia, Equatorial Guinea and the US Trade and Development Agency. The ministry also signed a deal to cooperate with Neptune Energy Company in exploring for oil and natural gas inside the Gulf of Suez with $35 million investments. The deal included a furnish valued at $11 million to dig 3 wells. The Egyptian General Petroleum Corporation also signed a cooperation settlement with British Petroleum (BP) Company on fueling ships.

An Important cooperation between the Egyptian Petrochemicals Holding Company’s and the US Bechtel Corporation to enforce a refining and petrochemical complicated inside the Suez Canal Economic Zone at an investment cost well worth about 6.7 billion dollars. A big deal was signed with Germany’s Siempelkamp to establish a project for producing medium-density fiberboard (MDF) panels at investments that are worth about 210 million euros.

As part of the activities held during the EGYPS 2020, two deals were signed between Egypt’s Petrojet and Italy’s Saipem Company for implementing projects in Libya and offering advanced Internship Programs for Egyptian cadres.

The Egyptian Natural Gas Holding Company (EGAS), the Egyptian International Gas Technology (Gastec), and the Natural Gas Vehicles Company (CAR GAS) signed two agreements with the Italian Landi Renzo Company to run vehicles on natural gas in Egypt.

EGYPS also witnessed the signing of deals connected with the expansion of GASCO’s Western Desert Gas Complex in Alexandria, compressed natural gas transportation services, marine seismic and geophysical surveys and subsurface imaging services as well as the digital transformation in the oil and gas industry.

EGYPS is the largest oil and gas conference and exhibition across Egypt, North Africa and the Mediterranean. It has attracted over 270 local and international industrial experts.

Held under the theme of "North Africa and the Mediterranean: Delivering the Needs of Tomorrow," the event witnessed the participation of 1,600 people from 14 countries, alongside 15 international petroleum companies and more than 450 exhibitors.

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