Egypt acquires ownership of two offshore oil rigs

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Egypt acquires ownership of two offshore oil rigs

STORY: Egypt acquires ownership of two offshore oil rigs DATELINE: Aug. 2, 2022 LENGTH: 0:00:59 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of headquarters of the Egyptian Ministry of Oil 2. various of Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla 3. various of Egyptian oil field STORYLINE: Egyptian Minister of Petroleum and Mineral Resources, Tarek El-Molla, announced on Monday that Egypt has acquired the ownership of two offshore oil rigs Al-Qaher 1 and Al-Qaher 2 through the acquisition of 50 percent of shares from Japanese Toyota Company in the Egyptian Offshore Drilling Company. The Minister noted that the acquisition comes at a good time as the international oil price has increased significantly in conjunction with the intensive drilling program in Egypt's territorial waters. Xinhua News Agency correspondents reporting from Cairo. (XHTV)

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