El Molla Reviews WEPCO 2022/23 Performance

El Molla Reviews WEPCO 2022/23 Performance

Minister of Petroleum and Mineral Resources Tarek El Molla attended the general assembly of the Western Desert Operating Petroleum Company (WEPCO) to review the business results for the fiscal year 2022/23.

During the meeting, El Molla highlighted the importance of the Al-Hamra Petroleum Port area in the El Alamein region and the projects and plans drawn up for its essential role in the region’s logistics with regard to western desert production, import or export, and increasing various production capacities.

El Molla praised the results achieved by WEPCO, which were reflected in its expansion plans in light of its possession of young human cadres in its various activities.

El Molla also highlighted the importance of adhering to the timetables for implementing the projects currently being implemented, given its importance as a strategic region.

Meanwhile, Ibrahim Massoud, WEPCO’s Chairman, reviewed the most important results of its work during the fiscal year 2022/23. He explained that the trial operation of the new pump station projects had been carried out to increase the capacity and rates of shipping crude oil from Al Hamra Port facilities to tankers to reach one million barrels per day.

Massoud stated that during the year, an amount around 81 million barrels was received through storage facilities at the port. About 21 million barrels were shipped through sea facilities, in addition to supplying refineries with an amount of about 59 million barrels through land lines.

The port’s storage capacity was increased to reach 2.8 million barrels after the completion of the construction of crude oil storage warehouse No. 8 with a capacity of 630,000. In the field of energy conservation and reducing carbon emissions, the project to establish a solar energy station with a capacity of 500 kilowatts was completed, Massoud noted.

Additionally, Massoud reviewed the most important features of the company’s investment plan during the fiscal year 2023/24. He explained that the first phase will be completed and the second phase of the southern region expansion project will begin. This includes the establishment of three diesel warehouses, the establishment of a platform for charging trucks and all its facilities, in order to serve the new urban community and the industrial backbone in the city of El Alamein.

 

Sarah Samir 3469 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.

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