Minister of Petroleum and Mineral Resources Tarek El Molla praised the launch of the Al-Hamra Petroleum Port and its transformation into an integrated logistics center for receiving, exporting and storing crude oil and petroleum products as a success story that confirms the comprehensive vision of the Ministry of Petroleum and Mineral Resources’ strategy, Al Ahram Gate reported.
This came during a general assembly to approve the annual results of the Western Desert Operating Petroleum Co. (WEPCO) and Badr Petroleum Company for the fiscal year (FY) 2021/2022. El Molla clarified the importance of expediting the development of a specific plan with clear timing and implementation of new projects in the expansion area and the southern region, in order to achieve the maximum possible benefit and attract international companies to invest in taking advantage of the port’s potential.
WEPCO Chairman Ibrahim Massoud reviewed the most important results of its work during FY 2021/2022, where he explained the efforts to modernize, develop, increase and raise the efficiency of the port facilities, and reviewed the expansion plan for the Al-Hamra port area represented in the 120-acre beach plot to increase the storage capacity of the Al Hamra Port facilities to reach 4 million barrels. The general plan for exploiting the 420-acre plot of land is to convert it into an integrated area for the handling and storage of petroleum products.
During the approval of Badr Petroleum Company’s business results for FY 2021/2022, El Molla stressed the importance of providing full support to the company’s efforts to increase production in the region in light of the results achieved that confirm the efficiency and excellence of the company’s capacities and that all production is for the benefit of the petroleum sector.