Cairo – Mubasher: The fourth edition of Egypt Petroleum Show (EGYPS 2020) kicked off on Tuesday, bringing together 30,000 visitors, 1,600 delegates, 270 speakers, and more than 450 exhibitors.
Petro-refinery complex
On the first day of the three-day event, the Egyptian Petrochemicals Holding Company (ECHEM) signed a cooperation agreement with the US Bechtel Corporation to build a refinery and petrochemicals complex in the Suez Canal Economic Zone with estimated investments of $6.7 billion, according to a statement on Tuesday.
Under the deal, ECHEM will start conducting a detailed feasibility study for the project in collaboration with international consultants, while Bechtel Corporation will arrange the needed funding from banks and financial institutions.
The project is expected to increase oil and petrochemical production capacity to meet local needs and export the surplus.
Online portal for oil and gas exploration
The Egyptian General Petroleum Corporation (EGPC) signed a memorandum of understanding (MoU) with Schlumberger, the world's leading oilfield service company, to launch an online portal for oil and gas exploration opportunities in Egypt.
This move aims to support digital transformation in the oil and gas industry in the North African nation.
Using the most advanced digital solutions, the portal will offer investment opportunities for oil and gas exploration in a bid to encourage international oil companies to inject new investments in the country.
Training
The Egyptian Ministry of Petroleum and Mineral Resources and London-based oil and gas company BP signed an agreement to provide training and skill development programmes for entry- and mid-level staff members.
Mediterranean gas exploration
The regional manager of BP in the MENA region Hesham Mekkawy signed an MoU with the executive vice president of Schlumberger Hinda Gharbi.
Under the MoU, the two companies will work together on digitalising the East Mediterranean gas upstream market.
