El Hamra Petroleum Port successfully received 82 million barrels (MB) of crude oil during fiscal year (FY) 2020/21, Western Desert Operating Petroleum Company (WEPCO)’s Chairman, Ibrahim Massoud, stated.
This came during the general assembly chaired by Minister of Petroleum and Mineral Resources, Tarek El Molla, to review the company’s performance in 2020/21, the ministry said in a press release.
The new expansions of El Hamra port area, extending over an area of 120 feddans, will include the construction of two new storage warehouses (number 9 and 10) in addition to the facilities for the two warehouses, Massoud noted, adding that engineering studies are currently being prepared for the project by the Petroleum Projects and Technical Consultations Company (Petrojet), which is the general contractor.
Warehouse number 7 was added to operations in March, increasing the storage capacity of the port by 40% to reach 2.13 mb, Massoud said, pointing out that warehouse number 8 is under construction. The two warehouses cost $64 million, and they are considered a major pillar in the port’s development.
The development of specialized petroleum ports is an integral part of the ministry’s strategy to transform Egypt into a regional center for oil and gas trade and circulation, El Molla pointed out, adding that El Hamra Port is one of the important ports that will witness important expansions and developments that come in line with the country’s plan to become a regional oil and gas trading and storage hub.