Egypt, Algeria probe enhancing cooperation in energy sector
Updated 11/20/2025 8:22:00 AMArab Finance: Minister of Petroleum and Mineral Resources Karim Badawi and Algeria’s Ambassador to Egypt Mohamed Sofiane Berrah discussed ways to enhance cooperation in the oil, gas, and mineral resources domains, according to a statement.
The discussions came in light of the memorandum of understanding (MoU) signed in October 2022.
Badawi highlighted the growing cooperation between the two countries in the oil and gas sector in implementing projects in Algeria.
He pointed out that one of the most prominent results of this cooperation was PETROJET’s recent award of a major project in Algeria as the general contractor for developing Phase II of the Hassi Bir Rekaiz field for Sonatrach Petroleum Corporation, with a value exceeding $1 billion.
The minister also affirmed that the cooperation secures key opportunities for exchanging expertise and enhancing technical knowledge, while opening new horizons for Egyptian companies to operate in the promising Algerian market.
It also contributes to supporting economic integration between Egypt and Algeria, strengthening energy security in the region, and creating greater opportunities for joint investment in gas, oil, and mining projects in the coming period.
For his part, Berrah indicated that these relations will witness a significant boost in the coming period with the convening of the Egyptian-Algerian Joint Higher Committee at the end of this month in Egypt, headed by the prime ministers of both countries.
He noted that the committee meetings would discuss a number of issues of mutual interest, contributing to an increase in trade volume from $1 billion to $5 billion in the future.
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