Minister of Petroleum: We Are Working on Modernizing the Whole Value Chain of the Petroleum Sector

Eng. Tarek EI Molla, Minister of Petroleum and Mineral Resources has ensured that the results announced today in EGYPS Conference represent a positive indicator in terms of the entry of new major companies in the field of upstream in Egypt for the first time like ExxonMobil Company, the growth of companies operating its investments and the return of Shell company to participate in Bid Rounds and winning five Blocks in the Bid Rounds of 2018 for both EGPC and EGAS.

He indicated also that the third edition of EGYPS conference has witnessed a wide participation and high interest. It has become one of the most important events that the international companies have keen to participate in, which reflects, respectively, the confidence in the investment climate provided by the oil and gas industry in Egypt. The specialized technical sessions provide high momentum for the event. Initiatives and plans are announced by each Course of conference sessions. Their results and outputs are announced in the following course making it a platform expressing, transparently, the Egyptian Petroleum Sector provided efforts and results. 

EI Molla added that the conference discussed during his various sessions several important issues regarding the development and the updates of the Petroleum Sector which is reflected upon the performance excellence including empowering youth, increasing awareness, spreading the personal and professional safety culture and the woman role at the Petroleum Sector, indicating the sector’s concern to improve all industry aspects as empowering youth is being executed by the leader’s qualification programs, that was announced. Its test was passed by 400 employees of petroleum cadres. The company shall increase their experts and develop their skills rapidly. It was achieved in cooperation between the Petroleum Sector and the foreign companies operating in Egypt. He ensured his full belief in this project success and earning its benefits at the earliest phase. 

Regarding the commitment to apply and spread safety culture (HSE), the Minister indicated that the Sector is preparing to connect leading professions to the extent of efficiency in improving safe work environment helping to achieve work and keep spirits, equipment and facilities ensuring full interest in raising awareness in this field between leaders, middle and young management members.

EI Molla has ensured full support to all operating elements in the Petroleum organization system including woman that the conference is focused upon since his first edition to customize a session for her. The Petroleum Sector is keen on giving woman the opportunity to conduct leading positions and support her efforts of innovation, work and develop her skills. During the woman session, numeruos female successful leaders of Ministers, governmental officials and private sector, were invited to show their experiences in the executive work.

The Minister ensured that the Petroleum Sector has ambitious plans to grow the petroleum resources production in parallel with developing and updating the whole oil and gas value chain sectors. The Petroleum Sector, also, motivate small companies to benefit from the petroleum opportunities, set as one of the Sector's axes to increase investments.

EI Molla added that the year of 2008 has witnessed delivering gas to more than one million residential units to be connected by gas for the first time after launching an initiative to be connected without advance payment or benefits and in installments on six years. The Petroleum Sector has launched new GASOLINE 95 with the trade mark which witnessed a high demand for keeping up with new cars engines and achieving consumption savings.

The Minister indicated that the national project for transferring Egypt into a regional Hub for gas and oil Trade shall go strongly beyond all its axes, either in terms, of increasing gas and oil production or developing main structure for storing, exchanging and distributing petroleum products and also increasing refining capacity by new projects including Egyptian Refining Company projects ( ERC ), Midor refinery extensions, gasoline and fuel oil production complex in Assiut, will be completed, respectively, during the next period besides the expansion in petroleum international relations serving Egypt vision achievement and compatible to the partners targets, regionally. One of these steps is to establish the East Mediterranean Gas Forum (EMGF). He indicated that the Petroleum Sector will increase cooperation fields with the African countries regarding petroleum industry either by supporting experiences of these countries, transferring expertise and participate in executing petroleum projects by Sector companies indicating that Egypt’s presidency to the African Union will provide strong motivations for the Petroleum Sector plans in this regard.

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