Minister of Petroleum and Mineral Resources Tarek El Molla confirmed that the optimization of human cadres as well as assets and equipment have been critical factors in the continued success of petroleum projects implemented by the sector’s companies, especially Petrojet.

Petrojet’s role in executing petroleum projects has grown both locally and regionally, now including projects in major Arab oil-producing states such as Saudi Arabia and the UAE, according to the minister’s statement. 

This came during the General Assembly of the Petroleum Projects and Technical Consultations Company (Petrojet) at the company’s headquarters to approve the business results for the year 2022. The meeting took place in the presence of petroleum sector leaders, members of the Board of Directors, and representatives of the Central Auditing Organization.

El Molla praised the company’s accomplishments in human development, inclusiveness, and equality as well as in promoting the role of women in a sector. This comes as female engineers and workers in the Petrojet work system have proven their competence. 

Petrojet succeeded in achieving an unprecedented volume of contracts to implement projects inside and outside Egypt, with a value of EGP 123.5 billion, an increase of 106% over the volume of contracts in 2021, with EGP 42 billion for projects inside Egypt and EGP 81.5 billion for projects outside Egypt. This is an indication of great growth in the volume of the company’s external business, which for the first time in its history, exceeded the volume of internal business, Waleed Lotfy, the company’s chairman, stated. The company’s revenues jumped by 16% to reach EGP 40 billion.

Lotfy reviewed the new projects inside and outside Egypt, which amounted to more than 275 projects during the year. The meeting further reviewed the new projects implemented by Petrojet in the Egyptian oil sector, as well as Petrojet’s participation in the implementation of the state’s national projects.

Lotfy stated that the year 2022 witnessed qualitative steps to develop the assets and capabilities that the company possesses, including equipment for implementing projects and workshops for local manufacturing of equipment to increase the local component of projects.

In the field of safety, 192 million safe working hours were achieved, and the company’s qualitative steps to accelerate the pace of digital transformation and to qualify and develop its human cadres were reviewed by training more than 15,000 workers on safety programs, technical programs, and administrative and skill programs. Lotfy further reviewed the company’s procedures for achieving and activating diversity, equality, and inclusion for women in the company sectors.