Prime Minister Sherif Ismail said that optimizing the usage of natural resources, boosting exploration activities, increasing local production, as well as reserves ensure maximizing the value added to the national economy, reported Egypt Oil & gas (EOG).

Ismail made these statements while presiding over the the General Assembly of Ganoub el-Wadi Petroleum Holding Company (Ganope) and the Egyptian Petrochemicals Holding Company (ECHEM) to review the outcome of the fiscal year 2014/2015.

Ismail further clarified, in an official press release, that the petrochemical industry is an important component of the positive results achieved within the sector and will benefit the national economy. He added that there are many promising opportunities for serious investment in Egypt, especially the petroleum sector.

He explained that the goal of the current government is to raise the standard of living in the Upper Egypt provinces, especially after the increase rates of natural gas supplied to homes and the establishment of new fuel stations for cars.