Egypt

BAPETCO and Rashpetco Investments for 2021 Exceed $500M

Published on : 2021-02-15

The Petroleum Ministry has put the total value of investments of Badr El-Din Petroleum Company (BAPETCO) and Rashid Petroleum (Rashpetco) and Burullus Gas Company during the fiscal year 2021-2022 at about $519 million.

Al-Mulla, during the general assemblies of the two firms to endorse their budgets of 2021-2022, said the petroleum sector is implementing an integrated strategy to intensify exploration activities with the aim to increase reserves and production of crude oil and natural gas.

Molla stressed the need to improve the health, safety and industrial security systems, while maintaining precautionary measures on all sites, a statement by the Petroleum Ministry said Monday.

This is important to create a safe working environment to guarantee continued production, the minister noted.

He also called for action to reduce costs, rationalize spending and increase production rates.

Abu Qir Fertilizers Joins Egypt's Green Hydrogen Revolution: MoU with ABB International & MPS Infrastructure

Minister of Petroleum and Mineral Resources, Tarek El Molla, presided over a significant milestone in Egypt sustainable energy journey as he witnessed the signing of a Memorandum of Understanding (MoU) between Abu Qir Fertilizers Company, ABB International Group, MPS Infrastructure Company, and Petrojet.

British Steel Secures Significant Rail Supply Contract in Egypt

British Steel, a prominent UK company, has secured a lucrative multi-million-pound contract to supply rail infrastructure for a significant new route in Egypt.

Egypt Set to Launch Solar Power Station at ASORC

Enppi and Petrojet, leading entities in engineering, contracting, and construction within the petroleum sector, have been entrusted with executing a solar-powered electric generation station project, generating 10 megawatts, at the Assiut Oil Refining Company (ASORC)