A delegation of top-level Ministry of Petroleum officials, headed by the president of Egyptian General Petroleum Corporation (EGPC), arrive to Algiers for a three-day visit to discuss with their Algerian counterparts increasing Algerian butane exports to Egypt.
Algerian Minister of Foreign Affairs Mourad Medelci formerly announced that his country had decided a 50 per cent raise of its butane exports to Egypt, to reach 1.5 metric tons per year, adding that Algeria provides Egypt with 50 per cent of its butane consumption.
Talks will likely include refining Algerian crude oil in Egypt and providing a number of oil refineries specifically for Algerian oil.
Negotiations will also address increasing the presence of Egyptian oil services companies in Algeria, which will likely witness a huge increase in investment in its petroleum and butane sector.
Egypt’s oil services companies are already widely present in Algeria as one of the leading companies in the field, Petrojet, completed in April 2012 the first and second phase of a major pipeline project of almost 433 kilometres that aims at transporting oil between Hassi El-Raml field in the southern province of Lagwat to the eastern province of Batna.
Prime Minister Hisham Kandil visited the capital Algiers on 22 October to solidify economic relations and boost mutual cooperation in the energy sector.