Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi witnessed the signing of the MoUs.
CEO of the Egyptian General Petroleum Corporation Salah Abdel-Karim; Board Member of Hassan Allam Holding Mohy-Eldin Abdin; and Board Member of Infinity Capital Investments Teymour Abou Elkheir signed the first MoU.
Moreover, Abdel-Karim and Ahmed Ezz, head of the Ezz Industrial Group, signed the second MoU.
The third MoU was signed by Abdel-Karim and Mohamed Abu El-Azaim, executive director and managing director of El Sewedy Industrial Group-EIG.
Abdel-Karim and Engineer Ayman Mamdouh Abbas, head of the Advanced Petroleum Services Group, signed the fourth MoU.
Minister Badawi indicated that the four MoUs aim to study the possibility of letting the signing companies participate in the available investment opportunities in exploration and production, especially developing fields in the Gulf of Suez and Eastern Desert.
Similarly, Egypt had signed four MoUs with international companies to enhance oil cooperation.
Over the past two years, natural gas production has decreased by 25 percent in Egypt.
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