Tarek El Molla, Minister of Petroleum and Mineral Resources, inspected the progress in the AssiutPetroleum Geographical Zone, which includes the companies (Assiut National Oil Professing Company “ANOPC”, Petrogas, Al Taawon Petroleum, Petroleum Arrows Company, and Nile Petroleum).
He said that establishing projects and pumping new investments in the region does not stop, based on the vital role and importance of securing fuel supplies to the local market and the continuous development projects in southern Egypt. This area is full of potential which the petroleum sector exploits well in maximizing the added value of the region.
During his inspection of the trial operation of the new complex for the production of high-octane petrol in Assiut, El-Molla said that the new complex has an investment value of $450m with a production capacity of about 800,000 tons of petrol annually. This is a strong addition to the plans to increase the refining capacity implemented by the ministry in the refineries in the various geographical regions in Egypt.
He added that it represents an added value to the national economy by reducing the bill for importing petroleum products, as well as easing pressure on the national road network by providing Upper Egypt’s needs of petrol, which were transported by lorries.
During the tour, the minister pointed out that the petroleum sector’s plans to maximize the benefits of the petroleum zone in Assiut include the construction of the new diesel complex of ANOPC as one of the most important national projects in the field of refining in the current period, both in terms of advanced technologies in the field of refining operations, and converting low-value diesel to high-value petroleum products. This includes diesel with European specifications “Euro 5”, naphtha, butane and others, or in terms of its investments amounting to about $2.9bn.
He stressed that this amount of refining investments in Upper Egypt, and the work of delivering natural gas to homes through the national project for delivery and the initiative “Decent Life”, as well as projects to raise the efficiency of the petroleum region in Assiut, and state projects implemented in all sectors, are messages from the political leadership and the government to Egyptians living here that they are a top priority and deserve changes that facilitate their lifestyle.
He stressed the commitment of petroleum investments that are implemented to social responsibility, as well as the commitment of companies and workers to apply precautionary measures to prevent the Coronavirus, in addition to adhering to the requirements of security, safety and occupational health.
