WB seeking to boost cooepration with Egypt oil sector

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Wed, 20 Sep 2017 - 01:41 GMT

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Wed, 20 Sep 2017 - 01:41 GMT

FILE PHOTO - A pump jack is seen at the Ashalchinskoye oil field owned by Russia's oil producer Tatneft near Almetyevsk, in the Republic of Tatarstan, Russia, July 27, 2017. Picture taken July 27, 2017. REUTERS/Sergei Karpukhin

FILE PHOTO - A pump jack is seen at the Ashalchinskoye oil field owned by Russia's oil producer Tatneft near Almetyevsk, in the Republic of Tatarstan, Russia, July 27, 2017. Picture taken July 27, 2017. REUTERS/Sergei Karpukhin

CAIRO- 20 September 2017: The World Bank is seeking to enhance cooperation with the Egyptian petroleum sector in the coming stage, a senior WB official has said.

The World Bank has contributed to a number of successful projects in Egypt, said Lucio Monari, Director of Energy and Extractive Global Practice, during a meeting with Petroleum Minister Tareq el Molla Wednesday.

He cited a project to extend natural gas to Egyptian houses.

He also pointed to a project to upgrade the petroleum sector and hone skills of workers.

Monari was also pleased with economic reforms implemented by the Egyptian government.

Molla said Egypt is keen on boosting economic ties with major funding institutions with the aim to encourage new investments in the Egyptian oil sector.

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