Gulf Oil and Gas accountACCOUNT

Common projects with neighboring Arab countries

Source: www.OilEgypt.com 7/26/2003, Location: Africa

The Egyptian petroleum industry exists since 117 years. This long history was the base for a number of initiatives with neighboring Arab countries in the oil and gas field.

Jordan
The Arab Gas Pipeline is a major project with large investment for exporting the Egyptian natural gas to Jordan and at a later stage to Syria and Lebanon, with potentials of extending export to Europe. The export agreement was singed in 2001 between Egypt, Jordan, Syria and Lebanon.

Kuwait
By the end of the year 2003 the first and largest Oil & Gas pipes production facility will start production in Port Said with a total investment of LE 200 million. The project is a joint venture between Egypt and Kuwait.

United Arab Emirates
EMARAT Misr company is a new joint venture between Egyptian companies (Midtap & Midor) and Emirates General Petroleum corporation (EMARAT). The Company Authorized capital is 500 million Egyptian pound. Issued capital is 100 million Egyptian pound (50% paid by EMARAT, 48% by Midtap and 2%by Midor). The main objective of the new company is the design and construction of 69 gas station with high technology standards to cover needs in large cities, main roads and the south valley. Other objectives will be marketing petroleum products under the Emart Misr new brand.

Saudi Arabia
Egypt and Saudi Arabia are cooperating in a huge polyester production facility in Egypt with a total investment of $550 million. Also Egypt is running several fueling stations for the Saudi Company Petromin in Egypt. On the other hand the Egyptian drilling company is working in Saudi Arabia where three onshore drilling rigs were awarded by ARAMCO. Currently studies are being done to establish an international petrochemical complex in the North of the Gulf of Suez.

Tunisia
Egyptian and Tunisian experiences are being integrated to enhance the Oil & Gas exploration activities that are performed by a Tunisian company working in the South Dabaa in the Western Desert.

Libya
Currently the Egyptian Petroleum Sector is studying plans for developing projects with Libya through "Al Tube" the Arab Company for Oil & Gas pipeline. The Libyan crude oil will be transferred to the Egyptian refineries through a pipeline from Tabruk in Libya to Alexandria in Egypt and the Egyptian natural gas will be transported to Libya for further integration with the local and international grids of natural gas. The Arab Company for oil & gas pipeline "Al Tube" is an Egyptian joint stock company established according to the provisions of the General Authority of Investment and Free Zones decree between Egypt & Libya. The Egyptian petroleum sector represented by the Egyptian General Petroleum Corporation (EGPC), GASCO and Petrojet have 50% shares and the Libyan national petroleum institute has 50% shares. Al Tube capital is $100 million. Al Tube will work in the field of construction and operation of oil & gas pipelines and oil storage tanks.

Algeria
Currently, Egypt is importing LPG from Algeria. Also studies are being developed to establish an Egyptian Algerian entity to handle the cooperation between the two countries in the field of oil & gas. Sudan
Sudan looks to increase cooperation with Egypt. The Sudanese government and the Egyptian government held talks on 26 June, 2003 to discuss ways to take advantage from the Egyptian companies experience in developing the Sudanese oil and gas industry including developing the discovered fields, refineries and pipelines. In this respect a technical cooperation protocol between Egypt and Sudan has been singed recently by the Egyptian Sudanese high committee concerning the petroleum projects. An Egyptian representation office will be established in Sudan to represent the Egyptian companies working in exploration and discoveries it will start working within 3 months.

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