A press release to Egypt Oil&Gas stated that Egypt’s Minister of Petroleum and Mineral Resources Tarek El Molla said that the petroleum sector is moving ahead with implementing petrochemical projects to optimize economic exploitation of Egypt’s petroleum resources, following the huge discoveries for natural gas reserves.

This came during the General Assembly of the Egyptian Ethylene and Derivatives Company (ETHYDCO) and the Egyptian Linear Alkyl Benzene Company (ELAB), which was chaired by El Molla. The assembly discussed the result of both companies with the presence of two of the Ministry’s First Undersecretaries, Chairpersons of the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS) and the Egyptian Petrochemicals Holding Company (ECHEM), in addition to the representatives of the Accountability State Authority.

During the assembly, ETHYDCO’s Chairman Saad Helal reviewed the company’s most significant results during 2016. Helal explained that the total production of the company reached about 161,000 tons of Ethylene and about 104,000 tons of polyethylene.

Meanwhile, ELAB’s Chairman Ibrahim Abdel Salam discussed the results of the company during 2016, where ELAB was able to meet its production plans and to reach the highest production level since its establishment in 2008.