The Egypt Oil & Gas (EOG) Committee - Executive Board held a meeting on Thursday 20th of January, to discuss the structure of the new committee and finalize the committee’s strategy and activities of its task forces for the year 2022.
Minister of Petroleum and Mineral Resources, Tarek El Molla, issued new promotions.
Minister of Petroleum and Mineral Resources, Tarek El Molla, appointed Alaa Adel Abbas El Sayed Hagar to be Head of the Central Administration of the Technical Office at the Ministry of Petroleum.
Minister of Petroleum and Mineral Resources, Tarek El Molla, appoints Alaa El Batal as the new Chairman for the Egyptian General Petroleum Corporation (EGPC), starting January 26th, 2022.
A summary of last week’s major macroeconomic updates and indicators brought to you on one page for your convenience.
During the meeting, the two ministers reviewed the readiness of their ministries, in coordination with the Ministry of Foreign Affairs, to host Egypt’s World Climate Summit COP27 in Sharm El-Sheikh in November 2022, which is being well prepared through a higher committee for coordination between the various ministries and entities participating in the conference.
The agreement merges the three producing concessions (West Gharib, West Bakr, and North West Gharib) which in December 2021 had an average production of 9,394 barrels of oil per day (bbl/d).
The significant drop in butane consumption from approximately 4.2 million tons (mt) in 2018 to 3.6 mt in 2020/21 was achieved thanks to the development of butane system and the expansion of projects to deliver natural gas to homes, Minister of Petroleum and Mineral Resources Tarek El Molla announced.
During the two assemblies, El Molla pointed out the importance of the oil sector's companies continuing their development and modernization plans in various aspects of petroleum activities. This development brought these ancient entities back on the right track and turned them into economic entities that efficiently manage their activities.
Pharos Energy signed the Third Amendment to the El Fayum Concession Agreement with Egypt’s  Minister of Petroleum and Mineral Resources Tarek El Molla and Egyptian General Petroleum Corporation (EGPC).
