Egypt-based multidisciplinary integrated contractor Petrojet has received a preliminary award for the general contractor contract for the second-phase development of the Hassi Bir Rekaiz conventional oil field in Algeria, valued at $1.087 billion, the Egyptian Ministry of Petroleum and Mineral Resources announced in a statement on October 20th.

Elsewedy Electric Company has signed an investment agreement worth $2.5 billion with the Algerian Investment Promotion Agency.

Minister of Electricity and Renewable Energy Mahmoud Esmat and Algeria’s Ambassador to Cairo Mohamed Sofiane Berrah discussed ways to boost cooperation and investment opportunities in electricity and renewable energy.

Minister of Petroleum and Mineral Resources Karim Badawi and Algeria’s Minister of Energy Mohamed Arkab discussed ways to enhance cooperation in the mining sector

Trade exchange between Egypt and Algeria rose to $622 million in the first eight months of 2024 from $563 million in the same period of 2023.

President Abdel Fattah El-Sisi has met with his Algerian counterpart Abdelmadjid Tebboune to boost bilateral relations, as per a statement by the Egyptian Presidency Spokesman.

The Petroleum Projects and Technical Consultations Company (Petrojet) has implemented projects in favor of Algeria’s Sonatrach with business volume exceeding $6 billion since 2006,

Trade exchange between Egypt and Algeria doubled in 2023 as compared to 2022, surpassing $1 billion, Head of the Commercial Office at the Egyptian Embassy in Algeria Yasser Qorani said.

Egypt and Alegria are planning to install two new submarine cables to link both countries, which will be operational by 2025.