Alexandria Petroleum Maintenance Company (Petromaint) announced that it has achieved total profits from its operations reaching EGP 126.6 million during Q1 2022, compared to EGP 77.81 million during the same period in 2021, an increasing of 62.7%.
Minister of Petroleum and Mineral Resources Tarek El-Molla and his Jordanian counterpart Minister of Energy and Mineral Resources Saleh Al-Kharabsheh signed a memorandum of understanding (MoU) for bilateral cooperation in the fields of mining, oil, gas, and petrochemical industry.
This comes as the Ministry of Petroleum and Mineral Resources announced the sector's achievements during the period from July 2014 to June 2022. The sector's milestones include the launch of 10 international bids during that period to search for oil and gas in the onshore and offshore areas in the Mediterranean, the Red Sea, the Delta, the Western and Eastern Deserts, the Gulf of Suez and Upper Egypt.
In an announcement about its important milestones from July 2014 to June 2022, the Ministry of Petroleum and Mineral Resources stated that Egypt's total production of petroleum throughout the past eight years amounted to an estimated 597 million tons.
The Ministry of Petroleum and Mineral Resources announced that the Egyptian petroleum trade balance achieved a surplus of EGP 46.4 billion in 2021.
The bidding will include sites with local investments for small miners, also known as individual mining, to cut down on random mining and conserve wasted wealth. It will also include sites for global investments, a source from the company told Egypt Oil & Gas Newspaper.
SDX Energy has announced a new gas discovery at the MA-1X well that targeted the Mohsen prospect, within the Exploration Extension Area of South Disouq.
Minister of Petroleum and Mineral Resources Tarek El Molla stated that the public complaint resolution system succeeded in handling 99% of citizens' complaints, exceeding the expected rate of 98%.
Minister of Petroleum and Mineral Resources Tarek El Molla met with Gabriel Obiang Lima, Minister of Minerals and Hydrocarbons of Equatorial Guinea, to discuss several issues related to supporting cooperation between the two countries within the framework of Egypt's current direction towards increasing and strengthening cooperation with African countries.
Yehia Zaki, the Chairman of Suez Canal Economic Zone (SCZone), has received a delegation from the Britain International Investments (BII) to discuss investment opportunities in the SCZone especially in energy and green hydrogen.
