Minister of Petroleum and Mineral Resources Tarek El Molla has reviewed the progress of new petrochemical projects, emphasizing that the investment map for these projects took into account the addition of new green and environmentally friendly products that would increase total production, which reached more than 4.3 million tons during the last fiscal year.
Enppi and Petrojet, the two arms of the petroleum sector in the fields of engineering designs, general contracting and construction, have been assigned the task of implementing the electric power generation station project using solar cells with a capacity of 10 megawatts at the Assiut Oil Refining Company (ASORC).
Within the framework of enhancing the occupational safety and health system at the Petroleum Pipelines Company (PPC), the Ministry of Petroleum and Mineral Resources (MoPMR) issued a number of movements in the company.
Minister of Petroleum and Mineral Resources Tarek El Molla has witnessed the 29th general assembly meeting of the Natural Gas Vehicles Company (Cargas) to discuss and approve the business results for the year 2023.
The modernization of Burullus gas fields, especially the Phase-9B fields that make a main contribution to production. Samir further mentioned that Phase-10 and Phase-11 are set to have six development wells drilled with investments $575 million. The wells are planned to add around 300 million cubic feet of gas and 500 barrels of condensates to daily production.
Revenues also increased to EGP 5.2 billion, compared to EGP 3.7 billion in 2022, an increase of 41%. Additionally, the company’s net profits rose to EGP 342 million, compared to EGP 129 million, an increase of 165% year on year (YoY).
The New Valley Company for Mineral Resources and Oil Clay (Wadico) has held its general assembly meeting to approve the results of the work for the year 2023.
Prime Minister Mostafa Madbouly has met with Minister of Petroleum and Mineral Resources Tarek El Molla to discuss several issues concerning the local market as well as the status of providing its petroleum needs, especially before Eid al-Fitr.
Egyptian President Abdel Fattah El Sisi has taken the constitutional oath to officially start his new presidential term on April 2nd, according to a statement from the Egyptian Presidency.
The International Drilling Material Manufacturing Company (IDM) has held its general assembly meeting to approve the results of the company’s work for the year 2023, with the participation of Minister of Petroleum and Mineral Resources Tarek El Molla.
