CAIRO (Halbeeg News) – Egyptian government has pledged to support Somalia in oil exploration ahead of the East African nation’s launch of its first international bidding for oil exploration.
During a meeting between the two countries’ ministers of Petroleum, Egyptian Minister of Petroleum and Mineral Resources,Tariq el-Molla reiterated that Egypt will have a key role in developing Somalia’s natural resources, a move that will impact the development of the country in general.
The Egyptian minister pointed out that he agreed with his Somali counterpart to hold talks on further steps needed to improve the areas of cooperation in oil and exploration.
Eel-Molla said that Somalia has good prospects for discovering oil fields as well as benefiting from the experience of the Egyptian petroleum companies in research, exploration, and implementation of oil projects.
The minister praised Somalia’s chances for the discovery of offshore oil fields saying they are rising because Somalia has the longest coast in Africa.
The Egyptian minister said that the visiting official “stressed his country’s pressing need to benefit from the Egyptian experience in the field of oil exploration and ways to issue international tenders.”
On his part, Somali Minister of Petroleum and Mineral Resources Abdirashid Mohamed commended Egyptian role saying such collaboration would also be beneficial for the Somali people who have long time suffered from the economic repercussions of the civil war.