19 May 2019 09:25 AM

Sisi reviews strategy on developing, constructing labs, grids of gas, petroleum sector

Tuesday، 22 May 2018 - 12:26 PM

President Abdel Fattah El Sisi gave directives on Monday 21/5/2018 to swiftly start implementing a project to build an integrated complex for oil refining and petrochemicals in Suez governorate besides another complex for hydrogen cracking of Mazut at Assiut Petroleum Refining Company (ASORC).

The President said these two ventures will help secure the needs of local market from petroleum products and reduce exports, a matter that will save financial resources of the State within the framework of the well-management of the state-owned assets and resources.

These remarks came during the meeting Sisi held with Prime Minister Sherif Ismail, Petroleum and Mineral Resources Minister Tarek el Molla and Head of the Armed Forces' Financial Authority Mohamed Ameen Nasr besides other officials.

The meeting was held as part of efforts to follow up the strategy of the Petroleum Ministry in developing and constructing laboratories, facilities and grids of the petroleum and gas sector, said Presidential Spokesman Bassam Rady.

Molla reviewed the details of the project of establishing an integrated complex for oil refining and petrochemicals in Suez governorate and another one for hydrogen cracking of Mazut in ASORC.

The minister further posted the president on the feasibility studies of the two projects and sources of financing them, Rady reiterated.

Molla briefed Sisi on the latest developments of oil exploration activities nationwide, the spokesman asserted.

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