The Petroleum Projects and Technical Consultations Company (Petrojet) recorded profits of EGP 23 billion during 2017, a 91% year-on-year (Y.o.Y) increase, company head Waleed Lotfy has stated, Egypt Oil & Gas reports.

Lotfy revealed the information during the general assembly chaired by the Egyptian Minister of Petroleum and Mineral Resources, Tarek El Molla, to review the company results for 2017.

The company successfully completed 80 petroleum and national projects in the fields of natural gas production, infrastructure and development during in 2017, Lotfy said. These included early production from the Zohr natural gas field in Port Said and West Nile Delta in Alexandria to produce from Taurus and Libra fields.

Petrojet’s projects further included the first phase of the development of the Middle East Oil Refinery (Midor) in Alexandria and the butane warehouses in Sohag.

Petrojet currently has a number other ongoing projects inside and outside Egypt that are running according to schedule.