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Egypt extended contracts with Saudi Advanced Energy System (ADES) for 3 offshore platforms with a cost of USD120 million. According to data published on the Saudi company’s website, it has 10 offshore drilling rigs operating in Egypt out of 49 offshore drilling rigs in its fleet.
Egypt extended contracts with Saudi Advanced Energy System (ADES) for 3 offshore platforms with a cost of USD120 million. According to data published on the Saudi company’s website, it has 10 offshore drilling rigs operating in Egypt out of 49 offshore drilling rigs in its fleet. Saudi Arabia is actively pursuing the goal of enhancing bilateral trade with Egypt to reach USD 100 billion, announced the Second Vice Chairman of the Federation of Saudi Chambers, Fayez Alharbi, in November cited by local media.
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In November, Minister of Trade and Industry, Ahmed Samir, indicated that Saudi investments in Egypt amounted to USD 6.3 billion across 7,444 projects. These investments cover the industry, construction, tourism, services, agriculture, finance, communications, and information technology sectors.
