4-party meeting discusses oil investments in Egypt

Kuwaiti Minister of Oil and Minister of State for National Assembly Affairs Dr. Ali Al-Omair said his meeting here on Thursday with the oil ministers of Egypt, Algeria and the United Arab Emirates was meant to explore horizons for more investments in Egypt's energy sector.
Kuwait maintains a fruitful and long-standing cooperation with Egypt in oil exploration and production, he told KUNA following the meeting.
"The four countries, represented at the meeting, have common interest in cooperation in the energy sector since they are oil producers and members in the Organization of the Petroleum Exporting Countries (OPEC)," Dr. Al-Omair said.
The meeting focused on Egypt's needs of oil by-products as well as the promising opportunities of investment in its oil sector, he pointed out.
"We asked the Egyptian side to present the feasibility studies of the planned projects as a prelude to developing them," he said, adding that he will convey the outcome of the meeting to the cabinet and Kuwait Petroleum Corporation (KPC).
Source: KUNA