The Minister of State, Minister of Hydrocarbons, Mohamed Arkab, received on Tuesday in Algiers the Egyptian Minister of Petroleum and Mineral Resources, Karim Ibrahim Ali Badawi, with both sides exploring prospects to strengthen bilateral cooperation ties and investment opportunities, the ministry said in a statement.
The statement emphasized that during the meeting, held in the presence of senior ministry officials, the two parties reviewed the state of bilateral cooperation, hailed as “historic and distinguished,” and further discussed means to enhance and develop them, notably in the hydrocarbons sector, as well as exploring new investment and partnership opportunities between the two countries.
Participants welcomed “the level of progress achieved in bilateral cooperation, through the fruitful exchanges between the two sides, which culminated in the signing of a contract for the development of phase two of the Hassi Bir Rekaiz field between Sonatrach Group and its partners and the Egyptian company Petrojet, alongside the signing of a memorandum of understanding (MoU) to frame discussions on marketing contracts for crude oil and petroleum products,” the statement added.
Both parties highlighted investment and partnership prospects across various hydrocarbon fields, notably in exploration and research, field development and exploitation, refining and petrochemicals, as well as equipment manufacturing, stressing the importance of technology transfer, human skills development, and the enhancement of training programs.
They also agreed to intensify coordination between the companies of the two countries in service of shared interests, commending the significance of continuing consultations and coordination within the Gas Exporting Countries Forum (GECF) and the Organization of Arab Petroleum Exporting Countries (OAPEC), with a view to bolstering regional cooperation and supporting energy market stability.
The Minister of State called on Egyptian companies to “seize the available opportunities for investment and partnership in Algeria, and to benefit from the attractive investment climate offered by new reforms, which is grounded in an enabling legal framework, streamlined procedures, and sustained support for investors, particularly through participation in the Algeria Bid Round 2026.” For his part, Badawi expressed “satisfaction with the level of fraternal relations between the two countries,” praising “the dynamism of bilateral cooperation, especially in the hydrocarbons sector.” He also welcomed the level reached by consultations between the two sides, which culminated in the signing of contracts with Sonatrach.
The Egyptian Minister is conducting a working visit to Algeria at the invitation of Arkab, leading a high-level delegation that includes the CEO of the Egyptian General Petroleum Corporation (EGPC), Salah El-Din Abdel Kerim, and the Chairman and Managing Director of Petrojet, Waleed Lotfy, alongside several officials from Egypt’s Ministry of Petroleum and Mineral Resources.
