• 01:55
  • Tuesday ,22 May 2018

Egypts Sisi, ministers discuss development projects in oil and gas sector


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Tuesday ,22 May 2018

Egypts Sisi, ministers discuss development projects in oil and gas sector

Egypt s President Abdel-Fattah El-Sisi discussed on Monday in a meeting with Prime Minister Sherif Ismail and Petroleum Minister Tarek El-Molla two new development projects in the oil and gas sector, the spokesperson of the Egyptian presidency said in a statement.

The meeting saw a discussion of the establishment of an integrated complex for refinement and petrochemicals in Suez Governorate as well as a hydrocracking complex in Assiut.
The president gave orders for the swift implementation of the two projects, stressing that these projects contribute to ensuring the stability of the domestic market for petroleum products and helping reduce imports.
The meeting was also attended by Chairman of the Financial Affairs Authority of the Armed Forces General Mohamed Amin and Deputy Governor of the Central Bank Gamal Negm.
The meeting was held to follow up on the Ministry of Petroleum s efforts to develop and establish plants, facilities and networks for the oil and gas sector.
The officials also reviewed feasibility studies for the projects and their sources of financing.
El-Molla also discussed during the meeting the latest developments in exploration activities by a number of companies, highlighting the success rates at a number of sites, which are indications of further discoveries.