Egypt, Britain discuss ways of boosting oil, gas cooperation

Egyptian Prime Minister Atef Ebeid received yesterday visiting executive chairman of the British Petroleum Company.

Emerging from the meeting, the British official said that he probed with Ebeid increasing cooperation between Egypt and the British company in the coming stage particularly in oil and gas prospecting.

He added that the British company has invested $ 12 billion over the past 30 years and that it is working on augmenting investments in the near future.

Petroleum Minister Sameh Fahmy said that British Petroleum Company is one of the pioneering companies in the field of oil prospecting in Egypt.

He added that the British executive and Ebeid agreed to set up a joint Egyptian British company operating in the field of oil in Egypt at a capital of $ 500 million.