Egypt offers Azerbaijan to refine, sell its oil
BAKU - Egyptian Oil Minister Sameh Fahmy has said Cairo is offering
Azerbaijan to refine its oil in Egypt for further exports.
Fahmy said in a meeting with Azerbaijani Minister of Industry and Energy Natig Aliyev in Baku Wednesday that his country’s current infrastructure allows refining Azerbaijan’s crude.
Egypt's oil minister, who is heading a delegation of top energy officials, including the president of Egypt’s national gas company, is visiting Azerbaijan to explore avenues for cooperation with the resource-rich South Caucasus republic in the energy sector.
Fahmy said his country was ready to sign oil contracts with Azerbaijan over the next five to ten years.
"The Egyptian oil and oil products market is lucrative," he said. "In 2009 alone, we discovered 64 new oil and gas finds in Egypt. Companies from 50 countries currently operate in the country’s oil and gas sector. We would like to see Azerbaijan among those countries."
Minister Aliyev said Azerbaijan could cooperate with Egypt in the fields of oil and gas production and geological exploration as well as in introducing modern technologies.
"The needed potential and opportunities are there," Aliyev said, adding that a joint taskforce should be established to hold more comprehensive talks on bilateral cooperation.
Fahmy said in a meeting with Azerbaijani Minister of Industry and Energy Natig Aliyev in Baku Wednesday that his country’s current infrastructure allows refining Azerbaijan’s crude.
Egypt's oil minister, who is heading a delegation of top energy officials, including the president of Egypt’s national gas company, is visiting Azerbaijan to explore avenues for cooperation with the resource-rich South Caucasus republic in the energy sector.
Fahmy said his country was ready to sign oil contracts with Azerbaijan over the next five to ten years.
"The Egyptian oil and oil products market is lucrative," he said. "In 2009 alone, we discovered 64 new oil and gas finds in Egypt. Companies from 50 countries currently operate in the country’s oil and gas sector. We would like to see Azerbaijan among those countries."
Minister Aliyev said Azerbaijan could cooperate with Egypt in the fields of oil and gas production and geological exploration as well as in introducing modern technologies.
"The needed potential and opportunities are there," Aliyev said, adding that a joint taskforce should be established to hold more comprehensive talks on bilateral cooperation.
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