Pharaonic Petroleum Company Chairman, Hossam Zaki reviewed the company’s performance rates during the fiscal year 2022/23, noting that the company’s total production amounted to 154 million cubic feet of gas per day (mcf/d) and more than 3,000 barrels of condensates, achieving a 99% efficiency rate for operating land and marine assets.

Zaki’s remarks came during the company’s general assembly meeting, which was attended by Minister of Petroleum and Mineral Resources Tarek El Molla.

Zaki stated that Pharaonic has succeeded in reducing carbon emissions to less than global standard levels

The company gives priority to preserving safety and the environment and has succeeded in maintaining ISO certificates in the management of occupational safety, health and environment and obtained the ISO certificate in energy conservation.

Zaki said that projects are being implemented for the digital transformation of the company’s financial and administrative systems.

During the meeting, El Molla highlighted the importance of applying safety standards, preserving personnel and assets, and raising operating efficiency in parallel with reducing costs without compromising the efficiency of the production process. This is possible through the use of advanced digital transformation technologies that achieve optimal exploitation of the existing infrastructure, he added.

The Minister appreciated the commitment of foreign petroleum sector partners and full cooperation and coordination with the petroleum sector in implementing work programs.

El Molla praised employees of Pharaonic Petroleum for their outstanding performance rates, their full commitment to implementing work plans, and achieving the highest rates of occupational safety and health.

The minister lauded Pharaonic Petroleum Company’s achievement of outstanding performance rates in implementing projects, maintaining safety standards, and implementing the energy efficiency program.