Egypt and Israeli have reported good progress in their talks on the future of the Sinai Oil fields.
Egypt and Israeli have reported good progress in their talks on the future of the Sinai Oil fields. Oil ministers from both countries met in Cairo on Wednesday (8 August) to discuss the handing over of the Sinai's Alma fields to Egypt and the subsequent sale of oil to Israel.
SYNOPSIS: Israeli Energy Minister Yitzhak Modai arrived for talks saying Israel wanted to buy the entire output from the Alma fields -- about forty-thousand barrels a day. The oil would provide about one quarter of Israel's needs. The handover of the fields to Egypt was called for under the Egyptian-Israeli peace treaty. When Mr. Modai met Egypt's Prime Minister Mustapha Khalil and Oil Minister Ahmed Ezzeddin Hilal, the question was how much oil Egypt would sell Israel and at what price. After the talks the ministers refused to give specific details, but it was apparent some agreement had been reached. Both Dr. Hilal and Mr. Modai said good progress had been made.