STORY: Egypt-China joint venture produces 1st oil rig
DATELINE: July 13, 2023
LENGTH: 00:00:58
LOCATION: Cairo
CATEGORY: ECONOMY

SHOTLIST:
various shots of the Ministry of Petroleum and Mineral Resourcesvarious of the inauguration
STORYLINE:

Egypt on Wednesday unveiled its first locally-produced oil rig in Ain Sokhna port in northeastern Egypt.

The 2,000-horsepower automatic trailer-mounted onshore oil drilling rig was manufactured by an Egypt-China joint venture.

Egyptian Minister of Petroleum and Mineral Resources Tarek El-Molla said that manufacturing diggers locally is a new and important step that enables the petroleum sector to make optimal use of its capabilities and accelerate its plans to drill wells to increase the oil production and gas resources, amid growing demand for oil.

El-Mulla stressed that the digger is a model of fruitful economic cooperation between Egypt and China and a successful example of transferring manufacturing technology from China to Egypt.

Meanwhile, Zhang Chaoyang, minister of the Chinese Embassy in Egypt, said that the successful delivery of the project is an important result of years of good cooperation between Chinese companies and their Egyptian partners.
   
As the producer of the excavation digger, Egyptian Petroleum HH Rig Manufacturing S.A.E Co. was co-funded by subsidiaries of China's Honghua Group Ltd and Egyptian General Petroleum Corporation.

Xinhua News Agency correspondents reporting from Cairo.
(XHTV)