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Egypt and AHQ Group sign two oil agreements

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L'Égypte et le groupe AHQ signent deux accords pétroliers

The Minister of Petroleum and Mineral Resources, Karim Badawi, witnessed a significant ceremony at the signing of two framework cooperation agreements between the Al-Qahtani Group (AHQ) and several companies in the Egyptian oil sector, represented by Tanmia Petroleum Company, Enppi and Petrojet. The event was held as part of the IKTVA Forum and Exhibition in Saudi Arabia.

The first agreement was signed by Mostafa Amer, Chairman of Tanmia Petroleum, and Abdel Hadi Tariq Al-Qahtani, Chairman of PWS. This partnership marks a major step forward in strengthening collaboration between the entities to exploit new opportunities in the sector.

The second agreement was signed by Waleed Lotfy, Chairman of Petrojet, Wael Lotfy, Chairman of Enppi, and Abdel Hadi Tariq Al-Qahtani, also on behalf of PWS. These signatures reflect a shared desire to strengthen strategic ties in the energy sector.

The agreements aim to create a strategic alliance and solid commercial cooperation, with each partner drawing on its expertise and specialisation. More specifically, they aim to :

1. Promote cooperation in the Middle East and Africa for the development of engineering, procurement and construction projects.
2. Building capacity in oil, gas, petrochemicals, infrastructure and industry in general.

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Prior to the signing ceremony, Minister Karim Badawi met with Sheikh Tariq Al-Qahtani, Chairman of the Board of Directors of the Abdul Hadi Al-Qahtani Group. This meeting was part of the preliminary discussions held over the last few months. Both parties highlighted the importance of cooperation in the mining sector, which is booming in Egypt.

Discussions also focused on strategies to accelerate investment and expand activities on the African continent, taking advantage of the expertise of Egyptian companies in the energy sector.

These agreements mark a major step forward in strengthening economic and industrial relations between Egypt and the Al-Qahtani Group. They pave the way for greater collaboration, not only in the Middle East but also on the African market, while consolidating Egypt's role as a regional hub for energy and mineral resources.

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