Egypt and Algeria to establish oil and gas joint venture
Egypt's Oil Minster Sameh Fahmi said that a joint Egyptian-Algerian venture will be established for prospecting for
oil and gas in the two states and that returns will be shared equally.
This is the first time in history that Egypt cooperates in the oil sector with an Arab state.
The agreement was made after talks that Fahmi made with Algerian Energy Minster Chakib Khelil on the sidelines of the
Tenth World Energy Forum that ended in the Qatari capital of Doha.
Fahmi said that his talks with the Algerian Minster showed full understanding concerning all topics tackled,
especially that Algeria is seeking to further cement cooperation with Egypt in the oil and gas sectors through the
setting up of joint marketing centre for Algerian butane gas to countries overlooking the Mediterranean, due to the
important location of Egypt.
