Egypt hopes to help develop Sudan’s oil sector

CAIRO, Sep 1, 2003 [MENL] — Egypt has signed an agreement to explore for oil and natural gas in Sudan.

The agreement was signed during a recent visit by Egyptian Oil Minister Sameh Fahmi to Khartoum. In the memorandum of understanding, Fahmi and his Sudanese counterpart, Awad Al Jaz, agreed that Egypt will prepare feasibility studies and begin unspecified contract work.

Officials said the Egyptian help could include investment and the transfer of technology and expertise. Al Jaz and the host expressed hope that Egypt would begin investment in Khartoum’s oil and natural gas sector.

Jaz said Egypt seeks to invest in the fields of exploration, drilling, refining and marketing of oil. Several unidentified Egyptian oil companies are currently operating in Sudan.