The Petroleum Projects & Technical Consultations Company’s (PETROJET) Chairman Waleed Lotfy reviewed the most important activities and business results during 2024 for the company, which this year marks the 50th anniversary of its establishment in 1975, explaining that the company’s work comes as a translation of the pillars of its strategic plan 2022/26.

This came during the general assembly meeting of Petrojet, attended by Minister of Petroleum and Mineral Resources Karim Badawi.

Lotfy stated that the company implemented the construction of 265 projects during 2024 with a business volume of more than EGP 80 billion, while the company succeeded in obtaining a new business volume and contracts for the implementation and construction of projects worth EGP 112 billion, 60% of which is outside Egypt, bringing the total volume of its work extending until 2028 to EGP 215 billion.

Petrojet also achieved over EGP 14 billion in net profit during the year and recorded more than 193 million safe working hours, an indicator of its commitment to the highest standards of safety and occupational health.

Lotfy pointed to the steps it has taken to grow its business volume abroad through cooperation with new clients and the establishment of new partnerships in Saudi Arabia, Libya, Jordan, the UAE, and Kuwait, and by targeting various industrial projects in Iraq, the UAE, Saudi Arabia, Algeria, the Sultanate of Oman, and Kuwait.

The company also targeted new, non-traditional foreign markets to work in, such as Mozambique, Angola, Congo, Croatia, and others.

Lotfy further pointed to the diversification of Petrojet’s business areas by entering into the implementation of seawater desalination plant projects, green hydrogen projects, and solar energy projects, and by cooperating with new global companies in the implementation of new types of specialized projects.

For his part, Badawi emphasized the pivotal role played by Petrojet in the implementation of energy and infrastructure projects, both inside and outside Egypt. During the meeting, the Minister highlighted the importance of promoting the expansion of the company’s activities in foreign markets.

The Minister further pointed out the significant efforts made by Petrojet in implementing the national projects of the Egyptian state, emphasizing the work to invest in the company’s capabilities, which include 42,000 qualified workers and huge technical, technological, and manufacturing capabilities, to enhance its participation in future national projects.