A press release to Egypt Oil&Gas stated that Egypt’s Minister of Petroleum and Mineral Resources, Tarek El Molla, chaired the meeting of the Higher Committee for Developing and Modernizing the Petroleum Sector to review and follow up the progress of the project.

The meeting was attended by First Undersecretaries of the Ministry, CEOs of the Egyptian General Petroleum Corporation (EGPC), the Egyptian Petrochemicals Holding Company (ECHEM) and the Egyptian Natural Gas Holding Company (EGAS), as well as the Heads of the teams responsible for implementing the development and modernization project.

During the meeting, El Molla announced that it was decided to shorten the period assigned for implementing the project. He also stressed on the importance of achieving quick wins after implementing the modernization initiatives that underpin the six programs of the project, which aims to raise the efficiency of the sector’s performance.

Moreover, the Minister pointed out that the modernization program reflects a new vision to develop the petroleum sector and to achieve the best performance.