Egypt's Petroleum Projects and Technical Consultations Company (Petrojet) and Spain's Tecnicas Reunidas (TR) have signed a memorandum of understanding involving cooperation in designing, supplying, and manufacturing heat transfer equipment.
Petroleum Minister Tareq el Molla, in a statement Tuesday, stressed the importance of cooperation with international companies to locally manufacture components and equipment used in petroleum projects.
This is in line with a strategy to upgrade and develop the local industry, he said.
Working with international companies would also allow Egypt to benefit from advanced techniques and use them in national projects, Molla added.
This, he said, should contribute to localizing technology and increasing local components in projects.