Minister of Petroleum and Mineral Resources, Tarek El Molla, chaired, via video conference, the general assembly of Ganounb El Wadi Petroleum Holding Company (Ganope) to approve the budget plan for the fiscal year (FY) 2022/23, the ministry said in a statement.

El Molla referred to the support that Upper Egypt enjoys in general, and the petroleum activities there in particular, from President Abdel Fattah Al Sisi, who has recently inaugurated the new gasoline production complex at the Assiut Oil Refining Company (ASORC) to meet the needs of Upper Egypt for gasoline, in addition to the diesel production complex at Anopec, whose construction is being accelerated.

The minister highlighted the strong participation of the oil and gas sector in the state’s plan to develop and increase the attractiveness and competitiveness of the governorates of Upper Egypt and the expansion of gas delivery within the Hayah Karima (Decent Life) initiative, which is in full swing and enjoys continuous follow-up, in addition to the expansion of establishment of natural gas supply stations. El Molla also highlighted the growing activity of seismic surveying, exploration and discovery in the pristine areas of the Red Sea as an investment to demarcate Egypt’s maritime borders with the Kingdom of Saudi Arabia.

An ambitious exploration and discovery activities plan for the next fiscal year was drawn up, driven by the successes achieved during the first half of this year, Nael Darwish, the company’s chairman, stated.

Darwish referred to the start of the second phase of the three-dimensional seismic survey and the drilling plan and plans to increase production during the current half-year and the next fiscal year.

Gas has been delivered to one million and 736,000 households in Upper Egypt since the start of the activity until the end of December 2021, Darwish stated, adding that the gas supply stations in Upper Egypt have been steadily increasing so far.