Minister of Petroleum and Mineral Resources Karim Badawi witnessed the proceedings of the General Assembly meeting of the Egyptian Company for Operation and Maintenance of Projects (EPROM) to review its 2024 business performance.

During the meeting, Badawi directed the company to maximize investment in human resources through training programs and accredited certifications, which contributes to raising professional efficiency and the company’s competitiveness.

EPROM Chairman Hossam Asaad Hassanein reviewed the company’s results for the year 2024, where EPROM achieved a record net profit, the highest in its history, totaling EGP 1.096 billion, compared to EGP 697 million in the previous year, registering an increase of 57%.

Hassanein pointed out that 2024 marks the beginning of the company’s international launch, as several contracts and agreements for international petroleum projects were signed. This will boost the company’s ability to expand the scope of its business in international markets in the fields of operation and maintenance.

Additionally, Hassanein clarified the company’s successes in launching internationally outside of Egypt by obtaining its first foreign contracts in October 2024 through an agreement with the Nigerian company NETCO, owned by the Nigerian National Petroleum Corporation (NNPC), to operate and maintain the Port Harcourt refinery in Nigeria. This is in addition to providing technical support services at the Warri and Kaduna refineries and petrochemical plants in Nigeria.

Hassanein added that EPROM signed Memoranda of Understanding (MoUs) with global companies such as the Italian Technip Energies, the French IFPT, and the Canadian METI to enhance cooperation in operation and maintenance, training, energy transition, and digital transformation, which opens up new areas of work domestically and internationally.

Badawi noted that EPROM possesses the capabilities and potential to be the executive arm for global oil market companies in Africa, praising the company’s distinction in the field of operation and maintenance for petroleum projects, especially given its regional uniqueness in this vital activity.