The Minister of Petroleum and Mineral Resources, Tarek El Molla, asserted that an Enterprise Resources Planning (ERP) program is currently being implemented in the framework of digitizing the petroleum sector, noting that it will be finalized by the end of 2021, according to a press release.

He elaborated that the program will digitally link the Egyptian General Petroleum Corporation (EGPC) with the refineries and manufacturing complexes and will help to raise their performance efficiency.

Additionally, El Molla confirmed that the new investments in updating, developing and increasing the capacity of refineries will reflect positively on securing the market needs of petroleum products.

The minister’s  statements came during the general assembly meetings of some public petroleum companies to approve their operational results of the fiscal year (FY) 2019/2020 in attendance of several officials in the petroleum sector.

In the same context, the Head of Cairo Oil Refining Company, Hesham El Bokl, showcased the main indicators for the operation results of his company, stating that the revenues increased 14% to EGP 3 billion due to the refining of 7.3 million tons of oil which produced about nine million tons of petroleum products covering a part of the domestic needs.

El Bokl pointed out that the company took some procedures as well to rationalize energy consumption, which enabled the company to save more than EGP 36 million, in addition to the local manufacturing and technical services for petroleum companies which were estimated at EGP 142 million.

Moreover, the Head of Suez Oil Processing company, Mohamed Elewa, said that his company refined about 2.5 million tons of crude representing a 51% increase from the previous year, and produced about 2.8 million tons of petroleum products. He pointed out that the company’s total production is valued at more than EGP 2.5 billion.

Elewa elaborated that the company is currently implementing a number of projects to raise the efficiency of operation and update the performance, in addition to implementing the latest standards of HSE.

Head of Nasr Petroleum Company, Mohamed Abdullah Hassan, stated that his company refined about 3.7 million tons of crude to raise its production value to EGP 2.4 billion recording an increase of 7% from the FY of 2018/19.