The United States Trade and Development Agency (USTDA) awarded two grants to Amreya Petroleum Refining Company (APRC) and Suez Oil Processing Company (SOPC) with a total of $1.4 million (mm) to conduct feasibility studies for refineries development.
The APRC feasibility study aims to improve its refinery efficiency by 25% and reduce emissions by 20%. While the SOPC study is intended to increase the refinery’s total production capacity, the productivity of gasoline, and improve its quality to meet international fuel standards. The UOP was selected to carry out its study.
The Minister of Petroleum and Mineral Resources, Tarek El Molla, asserted that this agreement is a remarkable example of the continuous strategic partnership between Egypt and the US in the oil and gas sector. The American Ambassador to Egypt, Jonathan Cohen, also added that “these grant agreements total $1.4 million and underscore the mutual focus of Egypt and the United States on expanding the robust trade and investment relationship between our countries. They will also help Egypt achieve its goal of becoming a regional energy hub, which is also priority for the United States.”
Additionally, the Acting Deputy Director of USTDA, Todd Abrajano, pointed out that “these grants to APRC and SOPC will increase the efficiency and profitability of their refineries while reducing environmental impacts. USTDA’s involvement will also create significant business opportunities for American firms.”
The agreement was signed by Hussein Awad, the Chairman of the Board of Directors of SOPC, Ali Badr, the Chairman of APRC, and the Acting Deputy Director of USTDA, Todd Abrajano.