Tanmia Petroleum Profits Increase by 50% in 2021

Tanmia Petroleum Profits Increase by 50% in 2021

Tanmia Petroleum Company held a general assembly to discuss business results for 2021, in the presence of Alaa Al Batal, Chairman of the Egyptian General Petroleum Corporation (EGPC), and his deputies, as well as Nael Darwish, Chairman of Ganoub El Wadi Petroleum Holding Company (Ganope).

Tanmia Petroleum’s Chairman and Managing Director Ahmed Bahgat reviewed the company’s activity during 2021 and how it achieved a 50% increase over the year before despite the challenges that the company faced.

The company succeeded in contracting with the Egyptian Drilling Company to operate the Tanmia-1 drilling rig in the fields of Khalida Company, and work is expected to start in May, Bahgat noted.

Bahgat also confirmed that within the framework of the petroleum sector’s policy of integrating its entities, the company’s business in 2021 witnessed the maximization of its assets through the manufacture of Porsche equipment for Petrojet, with a value of more than EGP 25 million, and the entry of such equipment into service at various petroleum sites.

Additionally, Bahgat thanked the Minister of Petroleum and Mineral Resources Tarek El Molla for his permanent support for the company. Bahgat further thanked El Batal and EGPC shareholders for their permanent support of Tanmia Petroleum, which helped double the company’s business volume.

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Sarah Samir 3496 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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