Egyptian President Abdel Fattah El Sisi had talks on Thursday with Igor Sechin, the president of the Russian company Rosneft which plans to contribute to developing the economic zone of the Suez Canal.

Rosneft, the leader of Russia’s petroleum industry and the world’s largest publicly traded petroleum company, has presented several offers for cooperation with Egypt in the petroleum domain, the spokesman said.

Sechin noted that a cooperation protocol would be inked with the Egyptian Ministry of Petroleum.

The Russian firm will send a team to Cairo for talks on bilateral cooperation, the spokesman said.

Sisi welcomed Russian businessmen to invest in Egypt.

The president said Rosneft can benefit from Egypt's unique geographical position and store its petroleum products in Egypt in preparation for exporting them.

Sechin said the company is mulling establishing several projects in Egypt, especially after the inauguration of the New Suez Canal.