Minister of Petroleum and Mineral Resources Tarek El Molla highlighted the importance of intensifying efforts to invest in the available opportunities to increase production and petroleum reserves.
This came during the extended meeting of the petroleum production companies, in the presence of officials of the foreign partners of these companies at the SUEZ Oil Company’s (SUCO) production site in the Gulf of Oil in the Eastern Desert.
El Molla clarified that the presence in work and production sites provides company leaders with immediate follow-up and a greater ability to develop solutions to any challenges that may arise.
The Ministry’s work strategy realizes that there is no luxury in terms of providing everything that would increase production and its openness to innovation and applicable ideas, El Molla noted.
The current stage requires companies to develop work plans and ambitious programs that achieve the main goal of the strategy represented in increasing production, rationalizing expenditures, and benefiting from all the assets and capabilities available in the petroleum production sites. This is in addition to increasing integration within the oil regions and making the best use of the facilities available there, the minister said.
El Molla and the audience listened to a presentation about the current challenges, the progress of the production process plans for research, exploration and development, and ongoing projects to increase production in a number of major production companies in the petroleum sector. The presentation was delivered by Saeid AbdelMoneim, Chairman of Khalda Petroleum Company; Tharwat El Gendy, Chairman of Agiba Petroleum Company; Nabil Abdel Sadiq, Chairman of the General Petroleum Company (GPC); Ashraf Abd El-Gawad, Chairman of Badr El Din Petroleum Company; Salah Abdel Karim, Chairman of GUPCO; and Khaled Mowafi, Chairman of Belayim Petroleum Company (Petrobel).