CAIRO — Algerian Oil Minister Chekib Khelil said Friday that Egyptian-Algerian ties, marred by violence over a World Cup qualifying match, were improving and the two nation will set up a joint oil company.
"They already improved, I am here," said Khelil on arrival in Cairo to attend on Saturday a meeting for the Organisation of Arab Petroleum Exporting Countries.
"We have first the OAPEC meeting tomorrow. Then I have a meeting with my Egyptian colleague on Sunday. I hope we will be signing an agreement to set a joint company to do (oil) exploration and production," Khelil said.
The company, to be named Selene Petrol, will be a 50-50 joint venture between Algeria's SONATRAC oil company and two Egyptian oil firms. It will operate in Algeria, Egypt and third countries, the minister said.
"So, you could say we are looking forward," to improved ties between Egypt and Algeria, Khelil said.
The company is named after Selene, the daughter of Egypt's Queen Cleopatra who ruled Egypt more than 2,000 years ago, and was married to Algerian King Juba II.
Algeria and Egypt engaged in a diplomatic row after Algerian fans attacked the buses of Egyptians fans in a World Cup qualifier hosted by Sudan earlier this month, which Algeria won.
Egypt withdrew its ambassador in response.
The trouble started before an earlier match hosted in Cairo, when a bus carrying the Algerian football team was pelted with stones, leaving three players wounded.
Algerians reacted by ransacking Egyptian businesses in Algiers.
"They already improved, I am here," said Khelil on arrival in Cairo to attend on Saturday a meeting for the Organisation of Arab Petroleum Exporting Countries.
"We have first the OAPEC meeting tomorrow. Then I have a meeting with my Egyptian colleague on Sunday. I hope we will be signing an agreement to set a joint company to do (oil) exploration and production," Khelil said.
The company, to be named Selene Petrol, will be a 50-50 joint venture between Algeria's SONATRAC oil company and two Egyptian oil firms. It will operate in Algeria, Egypt and third countries, the minister said.
"So, you could say we are looking forward," to improved ties between Egypt and Algeria, Khelil said.
The company is named after Selene, the daughter of Egypt's Queen Cleopatra who ruled Egypt more than 2,000 years ago, and was married to Algerian King Juba II.
Algeria and Egypt engaged in a diplomatic row after Algerian fans attacked the buses of Egyptians fans in a World Cup qualifier hosted by Sudan earlier this month, which Algeria won.
Egypt withdrew its ambassador in response.
The trouble started before an earlier match hosted in Cairo, when a bus carrying the Algerian football team was pelted with stones, leaving three players wounded.
Algerians reacted by ransacking Egyptian businesses in Algiers.
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