Egypt’s Petrojet and Spain’s Tecnicas Reunidas (TR) have signed a Memorandum of Understanding (MoU) to manufacture equipment for petroleum projects.
The signing was witnessed by Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla, according to a ministry statement on Tuesday.
The ministry added that the MoU aims to create cooperation between the two companies in designing, supplying and manufacturing specialised thermal equipment included in the components of petroleum projects.
This looks to support the expansion of the local manufacturing of this equipment at the manufacturing centres owned by Petrojet inside Egypt and abroad.
The MoU was signed by Petrojet Chairperson and Managing Director Waleed Lotfy, and Federico Rampini, Manager of the Heat Transfer Division for the Middle East area at TR.
The signing was attended by Abed Ezz El-Regal, Chairperson of the Egyptian General Petroleum Corporation (EGPC), and Ignacio Iglesias, Managing Director of the Spanish company.
El Molla stressed the importance of cooperation with international companies in the local manufacturing of equipment and components used in petroleum sector projects.
He noted that this implements the strategy to develop and modernise Egypt’s manufacturing capabilities in the sector, in accordance with the highest international quality standards.
It also contributes to the speed and efficiency of meeting petroleum project needs, whilst contributing to the localisation of technology, and increasing the local components in these projects.
El Molla pointed out that cooperation with international companies allows for a local understanding of the latest international technologies in the field of designing and manufacturing equipment.
It also ensures this knowledge and understanding is transferred to companies in the petroleum sector, to implement projects and raise their efficiency in this field.
TR is a world leader in designing and managing the implementation of various industrial projects through its various activities worldwide, especially in the oil and gas sector. It has over 60 years of experience in such work, according to the statement.