Egypt has asked Russian oil and gas companies, to partake in an international licensing rounds in order to gain rights to prospect and produce hydrocarbons.

A draft intergovernmental protocol obtained, revealed that Egypt invited Russian companies to take part in oil refining and petrochemicals investment projects. All the details, terms and conditions are to be sent to Russia via diplomatic channels.

The two countries have also decided to work together on developing alternative sources of hydrocarbon as well as voiced interest in oil and gas equipment manufacturing.

"Both sides acknowledged the benefits of cooperation between Egypt and Russia and expect to develop cooperation in the field of liquefied natural gas sales, oil and gas, as well as in the exploration and production of hydrocarbons," the draft protocol reads.

According to Sputnik news, even with the discovery of giant gas field in the country, Cairo has no plans to end its energy deals with Moscow as energy cooperation between the two countries spreads into the nuclear and clean energy fields.

Anita Fatunji