Saturday, May 17, 2008

Egyptian oil sector wins tender for establishing $ 152 million station for crude oil treatment in Yemen

An Egyptian consortium of Enppi and Petrojet companies won on 16/5/2008 an international tender for establishing a $ 152 million station for crude oil treatment in Yemen, according to a report received by Minister of Petroleum Sameh Fahmi.

The capacity of the would-be station is 30,000 barrel a day, said the report

Winning the tender proves the success of the Petroleum Ministry's strategy for implementing mammoth petroleum projects inside and outside Egypt, the report said.

The project, to be implemented in 22 months as of the end of May, will secure 1,500 jobs for Egyptians.

In the report, Chairmen of Petrojet and Enppi, Hani Dahi and Fakhry Eid respectively said their companies enjoy good reputation since they won several international bids.

The two companies had implemented international projects in line with international standards and the timetable set, their heads said.

Total investments of these projects were put by the report at $ 2 billion. They had been carried out in many countries including Saudi Arabia, Kuwait, Libya, Algeria, Lebanon, Sudan, Qatar and Syria, the report indicated.

Enppi was established in 1978 and is currently working under Egyptian Investment Law 8 for 1997, with a paid capital of $ 30 million.

The Egyptian General Petroleum Corporation, EGPC, is the principal shareholder owning 97 percent of the total shares of Enppi.


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