Egypt's energy sector has made a significant investment move in the Gulf region. The Ministry of Petroleum and Mineral Resources announced that a consortium of the country's major oil and gas companies, Petrojet and Enppi, signed an agreement with Petroleum Development Oman (PDO) for projects exceeding $6 billion.
The six-year framework agreement was signed at PDO's headquarters in Muscat, the capital of Oman. The agreement covers engineering, procurement, and construction (EPC) works.
The Egyptian Petrojet-Enppi alliance became one of four global consortia qualified to participate in competitive tenders for projects by PDO, Oman's largest oil and gas exploration and production company. The total value of this portfolio exceeds $6 billion.
The ministry stated that this agreement is part of the Egyptian petroleum sector's strategy to expand abroad, enter new markets, and increase exports of engineering and technical services.
The statement emphasized that the consortium will transfer knowledge and experience, contribute to the training of Omani engineers, and increase the participation of local companies. These steps are expected to support sustainable economic development in line with the goals of Oman Vision 2040.