MOSCOW, December 26 (RIA Novosti) - Russia's energy giant Gazprom [RTS: GAZP] said Tuesday it has reached an agreement with two Egyptian companies on joint prospecting and exploration of oil and natural gas in Egypt.
During talks in Moscow, Gazprom, Rashid Petroleum Company and Egyptian Natural Gas Holding Company (EGAS) agreed to form working groups on prospecting, exploration, transportation and sales of Egyptian oil and gas, including liquefied natural gas.
"The sides also discussed sales of Russian oil-and-gas equipment to Egypt," the Russian company said in a statement.
The third-largest in Africa after Algeria and Nigeria, Egypt's proven natural gas reserves account for about 1.89 trillion cubic meters. The total length of the country's gas pipelines is 4,700 kilometers (about 3,000 miles).
