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.
Tanmia Petroleum Company has held its general assembly meeting in the presence of Minister of Petroleum and Mineral Resources Tarek El Molla to discuss and approve the business results for the year 2023.
Minister of Petroleum and Mineral Resources Tarek El Molla has attended the general assembly of Petroleum Marine Services Company (PMS) which reviewed the company's results for the year 2023.
Minister of Petroleum and Mineral Resources Tarek El Molla has met with Denys Toscano Amores, the Ecuadorian Ambassador to Cairo.
