Egypt, France sign partnership agreement in oil fields

Egyptian Minister of Petroleum Sameh Fahmy said that his ministry and French Gas De France Group will sign on Monday a partnership agreement under which the giant French Group will work in Egypt's oil fields including exploration and setting up a factory for gas liquefication and then export it.

The agreement falls within the Ministry's policy in concluding agreements with international companies that could play a key role in all oil activities.

"By virtue of this agreement the French Group will pump billions of dollars into the country to execute some projects in all oil and gas operations", the Minister added.

The French side will probe the possibility of financing setting up a French-European-Egyptian center for sustained education and training without any financial burdens on the Egyptian side.