Egypt-China joint venture produces 1st oil rig

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, min