Tarek El Molla, Minister of Petroleum and Mineral Resources, has agreed to raise Petrojet’s capital from EGP 3.6 billion to EGP 6 billion.

Minister of Petroleum and Mineral Resources, Tarek El Molla, witnessed the signing of a memorandum of understanding (MoU) between Petrojet and the Spanish company Tecnicas Reunidas (TR) to cooperate in designing, supplying, and manufacturing heat transfer equipment used in components of petroleum projects, according to press release.

Petrojet implemented 350 projects inside and outside Egypt with EGP 53 billion in 2020, increasing 15% over 2019, in addition to securing the business worth more than EGP 31 billion with an increase of 5% over 2019, according to press release.

Petrojet signed teaming agreement with South Korean nuclear power companies consist of Korea Hydro & Nuclear Power (KHNP), KEPCO E&C, Hyundai E&C, and Doosan Heavy Industries & Construction (Doosan) to participate in the Egyptian first nuclear power plant (NPP) project El Dabaa. It will be constructed by the Russian general contractor for the project, JSC Atomstroyexport (JSC ASE).

Tarek El Molla, Minister of Petroleum and Mineral Resources, reviewed the $2.3 billion Midor refinery expansion in Alexandria which aims to increase its current refining capacity by 60%.

Petrojet Company has selected Bechtel to supply the coker furnace equipment for the Suez Oil Processing Company’s (SOPC) energy efficiency and upgrade program.

The Minister of Petroleum and Mineral Resources, Tarek El Molla, encouraged the production expansion projects and infrastructure development of Amerya and Alexandria refineries following a time schedule to achieve the goals of increasing production and providing high quality petroleum products.

Tarek El Molla, Minister of Petroleum and Mineral Resources, reviewed the progress of Assuit Oil Refining Company’s (ASORC) Octane complex, as it is currently undergoing trial operations, in addition to Assiut National Oil Processing Company’s (ANOPC) hydrocracking complex. Both complexes are valued at $3.4 billion as part of the state's and the ministry’s plan to increase investments and expand projects in Upper Egypt.

The Minister of Petroleum and Mineral Resources, Tarek El Molla, emphasized the local manufacturing of petroleum equipment to reduce imports and rationalize foreign exchange while visiting Petrojet’s central workshops for manufacturing static equipment. This showed how all national petroleum companies (NOCs) especially Petrojet gained distinguished experiences and achieved outstanding results in the local manufacturing field.

Cairo Gas began on a project to extend the polyethylene networks to​ Etihad Plaza in Abu Dhabi, according to a statement.