Recent encouraging statements from Shell, as well as from British and Ukrainian government representatives concerning increased oil investments are positive signs for Egypt’s oil sector.
At a recent meeting with Egyptian Minister Sameh Fahmi, Andrew Fone, president of Shell expressed his desire to increase Egyptian investments in the field of gas liquefaction, reports Cairo MENA.
In addition, Ukrainian Ambassador Andre Veselovsky voiced his interest in implementing the oil protocol signed in November between Ukraine and Egypt. He also suggested that the two countries exchange expertise in the field of oil.
Furthermore, Graham Boyce, Britain’s Ambassador to Egypt, maintained that the establishment of a natural gas liquefaction plant at Edco, along the Mediterranean coast, was underway by England’s Addison and British Gas firms.
These agreements and possible exchanges are welcomed by Egypt, whose Petroleum Ministry has launched a campaign to attract foreign investments in the areas of oil prospecting and exploration. –(MENA Report)
© 2001 Mena Report (www.menareport.com)
