Oil Minister signed a memorandum of understanding with Egypt to refining amounts of Basrah

17:59, March 12, 2016

Opinion economy

Adel Abdul-Mahdi, Minister of Oil signed a memorandum of understanding with his Egyptian counterpart, Tariq al-Mulla to strengthen the bonds of mutual cooperation between the two countries in the oil and gas industry.
The two ministers stressed that Egypt and Iraq both have distinct opportunities for further economic cooperation in various fields supports countries aspire to bring about the development of a real renaissance reflected positively on improving the standard of living of the citizens.
Mulla said that the areas of cooperation included in the MOU include the study of the Egyptian petroleum sector refines amounts of oil Basrah Iraqi light and storage of Iraqi oil in Egypt using the infrastructure and facilities of raw storage products owned by the Egyptian ports of Ain Sukhna, Red Sea and Side career in Alexandria, including maximizes economic benefit from the infrastructure of the petroleum sector.
The note includes the possibility of importing quantities of Basra crude month oil as may be agreed upon, and the training of Iraqi petroleum cadres in the Egyptian training centers, and the cooperation of oil sector in the areas of gas industry and the drilling of oil and gas wells and the establishment of gas networks for domestic use, adding that it was agreed on the participation of Egyptian companies in the implementation of oil and gas projects.
For his part, the Iraqi oil minister pointed to the keenness of both sides to activate the agreed projects between the two countries and its entry into force as soon as possible, pointing out that the cooperation with Egypt to achieve economic rewards outstanding for both countries, under the balanced business relationship achieved good results for Ba.anthy