Baker Hughes, a GE company (BHGE) has signed a memorandum of understanding (MoU) for the Upstream Gateway Project with the Egyptian Ministry of Petroleum & Mineral Resources, to support the modernisation of the Egypt’s oil and gas sector.
The MoU, which is aligned to the ministry’s modernisation programme, focuses on driving efficiency across Egypt’s oil and gas sector through the management of bid rounds using BHGE’s advanced digital technologies for data consolidation and aggregation in a secure central data lake. The digital transformation of the ministry’s National Data Centre will further support the energy sector’s growth and attractiveness to international investors.
Under this agreement, BHGE will explore avenues for managing, operating and financing Egypt’s Upstream Gateway Project and providing the digital infrastructure, platform and applications to support the project, in addition to consultancy services for bid rounds, asset valuation and promotion of bid round blocks and predictive algorithms for bid round management.
BHGE will also be providing training to skilled professionals in the petroleum sector that will be managing the project, contributing to the advancement of local capabilities and skill development.
