Arab FinanceEngineer Karim Badawi, Minister of Petroleum and Mineral Resources, accompanied by the leaders of the sector, inspected the progress of work in the production units of Alexandria National Refining and Petrochemical Company “Aerbak”, according to Statement The ministry was issued.
After the tour, Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the general assembly meeting of the company to adopt the results of the fiscal year 2024-2025; Where the minister stressed during the association the importance of the company’s role in its distinguished productive performance and skilled human cadres and infrastructure, to implement the ministry’s strategy.
The Minister directed the development of an integrated economic vision of new future expansions of the company, ensuring the continued growth, increased domestic production and reducing import with the opening of export prospects in the future, as explained by Sayyid Al -Rawi, the head of the Irbak company, in which he explained that the company has maintained a distinct productivity during the last financial year amounted to 1.6 million tons of high octane gasoline, in addition to some high -value products.
He reviewed the main kettle project to work with hydrogen, which contributed to the exploitation of 12,000 tons annually of hydrogen rich gases, which led to the reduction of natural gas consumption by about 20 thousand tons annually.
He pointed to the development work carried out by the company to raise the efficiency of productive units and increase storage energy by establishing a new warehouse with a capacity of 10 thousand tons.
It is worth noting that the Egyptian Ministry of Petroleum intends to implement an expanded plan to dig about 133 new oils for oil and gas during the fiscal year 2025-2026, in a number of sedimentary basins, with investments exceeding $ 5.5 billion with funding from foreign partners, with the aim of supporting new discoveries and increasing production rates.
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