Egypt Invests EGP 43 B in Assiut Oil Projects - EGYPT TODAY

Sunday, 21st July 2019

Investments in oil production and refining projects in Assiut total EGP 43 billion, sources in the Ministry of Petroleum told Egypt Today.

Projects include establishing a refining unit for producing high-octane gasoline, as well as a complex for the production of gasoline and diesel.

The ministry is building a number of new refining projects in Upper Egypt to meet the demand for petroleum products.

Egypt is carrying out six refining megaprojects with around $9 billion investments, as a part of the oil and gas sector’s Modernization Project, Minister of Petroleum Tarek El Molla previously stated.

In May, El Molla reviewed the situation of the mazut hydro-cracking complex at the Assiut National Oil Processing Company (ANOPC). The $1.9-billion project will use 2.5 million tons of mazut to produce higher-value products like diesel, naphtha, and butane.

Egypt oil ministry signed 8 deals worth $709 mln to find energy reserves in 2015/16 - AHRAM ONLINE

Sunday 25 Dec 2016

Egypt's petroleum ministry said it signed in 2015/16 eight agreements with six international and local companies to search for oil and gas reserves in the Mediterranean, the Western Desert, the Gulf of Suez and Upper Egypt, with total investments worth $709 million.

The ministry said in a Sunday statement that the agreements also include drilling 33 new energy wells.

The ministry also highlighted that it has succeeded in increasing the natural gas production per day to around 4.45 billion cubic feet of gas by accelerating the search for natural gas reserves in the Mediterranean.