Cairo, December 25, 2003 -- Egyptian Minister of Petroleum Eng. Sameh Fahmy yesterday held talks with Kuwaiti Minister of Energy Sheikh Ahmad Al-Fahad during his four-day visit to Kuwait. The focus was on the joint projects in the field of petroleum and petrochemical industry.
Sheikh Ahmed declared that Egypt has abundance natural gas production and Kuwait is expanding its petrochemical industry therefore Egyptian Kuwaiti work groups would study opportunities for cooperation in petrochemicals industries between the two countries.
Egypt and Kuwait have common petroleum cooperation projects where the Kuwait Foreign Petroleum Exploration Company (KUFPEC) had been operating in Egypt in three concessions North Bardawil, North Red Sea - Block II and Ras Kanayes. Also the first steel oil & gas pipes facility in Port Said is an Egyptian Kuwaiti joint venture project in which Kuwait has 60% shares and Egypt has 40% shares. The plant would provide the Arab Gas pipeline second phase (Aqaba- Rehab) with pipes. The plant has a production capacity of 150 thousand ton/year that will gradually increase to reach 225 thousand ton/year with a daily production rate of 160 pipes.