Minister of Petroleum and Mineral Resources, Tarek El Molla, participated in the annual assembly of Petroleum Marine Services Company (PMS) to review the company's performance in 2023. 

During the session, El Molla commended PMS for its achievements, highlighting its ability to adapt to rapid market changes and achieve sustainability. 

He reaffirmed the Ministry's full support for PMS in enhancing its role in implementing maritime projects to boost oil and gas production, emphasizing the importance of promoting policies to modernize the company's fleet and uphold international standards of quality, safety, and sustainability.

CEO of PMS, Amr Badawy, provided an overview of the company's main activities in 2023, including record profits and significant revenue growth. Notable projects mentioned included developments for various petroleum companies and infrastructure enhancements for the Suez Canal Authority. 

PMS also expanded its portfolio by undertaking new activities such as submarine cable laying and deep-water projects, contributing to increased competitiveness and market share. 

Badawy outlined the company's future strategies focused on sustainable growth, flexibility in dealing with market variables, and expanding into new activities and markets through the application of modern technology and digital transformation. 

Additionally, PMS aims to add marine units with specialized capabilities to support operations beyond the country's borders and open new markets in Saudi Arabia, the United Arab Emirates, Libya, and southern Europe. The company's contributions to community service projects in 2023 aligned with the Ministry's strategy for social responsibility.