Egypt and Saudi Arabia discuss cooperation to explore oil and gas in the 'Red Sea' Materials and Products

Minister of Petroleum and Mineral Resources Tariq Al-Mal, held a bilateral talks with his Saudi counterpart Eng. Khaled Al-Faleh, Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia, exchanged views on the oil and gas opportunities in the Red Sea region and opportunities for bilateral cooperation in this promising region. • To intensify research and exploration during the next phase.

Egypt recently launched the first global bid in the Red Sea, including 10 new oil and gas exploration areas.

On the sidelines of their participation in the activities of the Davos-Dead Sea Forum in Amman, the two ministers stressed the importance of cooperation in the field of exploration and exploration in the Red Sea through the transfer and exchange of technical and geological information that enhance the opportunities of attracting major international companies to work in this region. .

The Ministry of Petroleum said in a statement that the meeting discussed ways to enhance joint cooperation in the fields of oil, gas and mineral wealth and to review the current situation of world oil markets and prices.

During the discussions, they reviewed the opportunities for cooperation in mining activities and the exchange of information and experiences, especially that both countries are implementing their own strategic vision to develop this vital sector, increase their contribution to GDP and enhance value added.