Petroleum Air Services (PAS) plans to modernize its planes within 2017 for $80m. PAS’ VP, Hany Abdoun, informed Daily News Egypt that the company is setting the infrastructure for an operations headquarters to be based in El Gameel airport in Port Said.
Abdoun pointed out that PAS is in talks with a number of aircraft factories in order to purchase new planes to be added to the company’s fleet in July and October 2017.
PAS’ VP further stated that the company finalized the establishment of the plane hangars at Nozha Airport in Alexandria in order to go international to cover the demands of Egyptian contracting and oil firms that have concessions located in Algeria or Basra.
PAS is a joint venture between the Egyptian General Petroleum Corporation (EGPC), with 75% assets, and British Bristow Group owning 25%, which was established to open new sources of income that is meant to maximize revenues of petroleum firms.
PAS transports goods, via air, from and to oil firms and governmental institutions within Egypt and abroad using helicopters and fixed-wing aircrafts.