On the sideline of EGYPS 2019, The Minister of Petroleum and Mineral Resources Tarek El-Molla has witnessed the signature of several memorandums of agreement and cooperation.
The first memorandum is between “EGPC” Egyptian Petroleum Company and PETRONAS Global in Malaysia. This agreement is about the usage of the surplus capacity in the oil refinery in El Ameriya, this will be achieved through the establishment of a new company that will market the new oil, which will be produced under a mutual trademark to be used in the local market and to be used for export.
This cooperation will also include the transfer and exchange of expertise between the two companies, they will also benefit from their research centers and this is within the framework of the strategy of the Ministry of Petroleum to develop the services provided for the citizens and the production of new types of oils that are commensurate with modern engines.
The Minister also witnessed the signing of a Memorandum of agreement between the Ministry and Apache Egypt to support the “Young and Medium Leadership Development Program”. This agreement will help in developing and implementing a rapid training program for successful employees within the “Petroleum Sector Development and Modernization Program”, it will also prepare them for future leadership. This includes both practical training and training programs to transfer the necessary expertise given by Apache employees and by experts within the framework of the program of rehabilitation of young and medium leaders in the oil sector.
Another memorandum of agreement was signed between the Ministry and the American Chamber of Commerce which shows the support given to the ministry by Apache Egypt in order to prepare and implement a program for training and qualifying the middle management in the Petroleum Sector and to refine their expertise and develop their skills. This will start by providing training programs for 50 trainees chosen from the ministry and the chamber will finance the training. The program covers effective work systems, innovation, skills, team empowerment, best performance achievement, change management and strategies implementation. The program is the first of its kind between the Ministry and the Chamber in the framework of their joint cooperation.
El Molla also witnessed the signing of a memorandum of agreement between Schlumberger and the Egyptian Drilling Company to support the partnership between the two parties in the use of modern technologies and raising the efficiency of the oil fields to increase the production rates and to prepare new models to be presented to new companies that will enter the Egyptian market and to cooperate in the area of small field development.
The Minister also attended the signing of a cooperation agreement between ENPPI and SAP to implement an integrated system to manage the assets and resources of the Refining and Marketing Companies that is under the umbrella of the Egyptian General Petroleum Corporation. The agreement is also for the establishment of an integrated information system to ensure the flow of information between EGPC, the holding companies and subsidiaries under the Seventh Development and Modernization Program. The memorandum includes the construction of a technical support center within the petroleum sector to serve the sector companies and to select the distinguished cadres from the sector to manage it.
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