Sherif Ismail, Minister of Petroleum and Mineral Resources for Egypt, emphasized the importance of supporting Egyptian-Arab cooperation in various areas of the oil industry in light of the economic need for such projects.
He noted the many promising investment opportunities and prospects for fruitful cooperation in the petroleum sector, stressing that securing the energy supply for the domestic market and developing new projects and improving the services rendered to the citizens was the very center of the industry’s business strategy.
These remarks were made during the Emarat Misr (Emirates General Petroleum Corporation) shareholders’ meeting to approve the company financials for 2014. Mohamed Juma Bin Sharaf, General Manger of Emarat Misr, said that his company owns 11 stations scattered in a number of governorates providing high quality integrated services to citizens in line with the latest requirements and advanced technologies.
He added that the company has four new plants under construction and has contracted to rent land for the establishment of five other stations in Alexandria, Cairo, and New Damanhur.
In a related development, Emarat Misr issued a press release announcing that the company recently completed requirements to qualify for the supply and sales of jet fuel for aircraft in Egypt in accordance with international standards.
Sharaf was asked about the “central role” played by energy in the vision for Egypt’s economic development. He said there was a growing global realization of the need for “integrated development strategies” that take into account the “rapid global changes in the oil and energy markets, which – in return – have a direct impact on the petroleum industry globally, regionally, and locally.”
Previously Mubasher.info had quoted Emarat Misr CEO Tarek El-Hadidy about the exclusive partnership the company enjoyed with Misr Petroleum to establish the Misr-Gate project for the pipes, warehouses, operations, and management of an airplane-fueling station in Burg El-Arab with investments exceeding EGP 50 million ($6.6 million).
The scheme also involves transforming Burg El-Arab into the second largest airport in Egypt, adding that there was is a commercial agreement with Misr Petroleum to supply aircraft fuel in 12 regional airports in Egypt.
Source: Ministry of Petroleum Press Release