Fahmi meets Chinese oil delegation three joint companies to be set up

Egyptian Petroleum Minister Sameh Fahmi discussed yesterday with a Chinese oil delegation spheres of petroleum cooperation between Egypt and China.

Fahmi and the delegation, comprising a number of Chinese oil companies chairmen, company discussed the possibility of setting up a Chinese-Egyptian prospection company to work in Egypt, China and neighboring countries.

They also agreed to study setting up a joint company for construction and designs in the oil industries.

Talks also covered forming a joint working group to specify the needs of oil and gas projects in the two countries with the aim of setting up joint companies.

The Chinese side expressed readiness to transfer hi-tech and train Egyptian cadres in the drilling domain.