Egypt signs MOU with European Bank to enhance petroleum sector dvelopment

*Oil rig operating on Aje 5 well.

*Oil rig operating on Aje 5 well.

29 November 2015, Cairo  – Egypt’s Petroleum Minister Tarek el Molla attended the signing ceremony of a memorandum of understanding (MOU) between the petroleum sector and the European Bank for Reconstruction and Development (EBRD) with the purpose of supporting cooperation between the two sides in the field of enhancing sustainable development and developing environmental standards in the petroleum and gas industries in Egypt.

 The memorandum of understanding aims at considering opportunities of developing and improving efficiency of the Egyptian refineries and enhancing environmental and safety standards in the Egyptian petroleum sector.
 – Egypt State Information Service
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