Egypt’s Ministry of Petroleum and Mineral Resources signed a memorandum of understanding with the International Finance Corporation (IFC) of the World Bank Group on financing infrastructure projects in oil and gas sector, reported the Saudi Press Agency on Wednesday.
The deal will support Egypt’s goal to become a regional hub for trade and oil and gas circulation in the eastern Mediterranean.
It will help strengthen its gas operations and improve energy efficiency and utilization of the associated petroleum gases in the fields of production and exploitation, refining and petrochemical industries.
