El Molla Reviews Crude Oil Production Rates
EJYPTE OIL ABD GAS-Wednesday, 5th February 2020
Tarek El Molla, Minister of Petroleum and Mineral Resources, reviewed the production rate of crude oil in the fiscal year (FY) 2019/20 and plans for the production increase during a meeting with the ministry’s officials and crude oil producers, according to a press release.
During the meeting, the minister reviewed performance indicators of health, safety, and environment (HSE) in production sites. The meeting was attended by Ashraf Farag, First Undersecretary for Agreements and Exploration; Abed Ezz El Regal, CEO of Egyptian General Petroleum Corporation (EGPC); and Mohammed Abd El Azeem, Chairman Ganoub El Wadi Petroleum Holding Company (GANOPE). The heads of Balaeim Petroleum (Petrobel), Badr El-Din, Qarun, Gulf of Suez Petroleum Company (GUPCO), Agiba, and Khalda were also present in the meeting in addition to the vice presidents of EGPC and HSE officials.
El Molla affirmed the importance of adhering to the agreed plans to improve production of crude oil through intensifying exploration and production (E&P), and drilling works. El Molla also noted that efficient solutions should be developed by the EGPC in coordination with international oil companies (IOCs) to overcome any challenges. Furthermore, he emphasized necessity of the strict adherence to HSE regulations in all production sites to ensure the safety of personnel and equipment.
The minister encouraged working on creative ideas, and to utilize promising calibers to improve production of crude oil.