Approving the planning budget of the Egyptian South Valley Petroleum Holding Company for the fiscal year 2023/2024.

Aya Hussein

Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, presided over the work of the General Assembly of the Egyptian South Valley Petroleum Holding Company via videoconference to approve the planning budget for the fiscal year 2023 / 2024, in the presence of Major General Ashraf Attia, Governor of Aswan, Chancellor Mustafa Elham, Governor of Luxor, and Major General Ashraf El Dawdy, Governor of Qena. Oil for the people of Upper Egypt, especially efforts to deliver gas to homes, which witnessed a great expansion, in addition to delivering gas to villages within the initiative of a decent life, as well as increasing centers for converting cars to work with compressed natural gas, and expanding the deployment of service stations to facilitate the needs of our people in Upper Egypt because of its economic returns.

Pointing out that the work on the Anopec complex project for the production of diesel in Assiut is proceeding in full swing, and that despite the challenges posed by successive global events, the sector succeeded in obtaining most of the supplies for this large complex, which is planned to be completed during the next year, to contribute, in addition to Gasoline production complex which evil With the inauguration of President Abdel Fattah El-Sisi, in securing the needs of the governorates of Upper Egypt for fuel of both types, gasoline and diesel, as an economic and safe fuel instead of transporting fuel from the north to the south.

Pointing out that the sector is currently working on establishing a factory in Ain Sukhna To manufacture gas pipelines for homes, which will contribute to providing part of the needs of gas delivery companies in order to maximize the local component and reduce the cost of import.

The minister pointed out that the demarcation of the borders with the Kingdom of Saudi Arabia enabled the sector to work in the Red Sea region Al-Bakr and that, based on the results of the seismic searches, an international bid was launched in the Red Sea, which attracted great interest from international oil companies such as Chevron, Shell and Mubadala of the Emirates. He pointed out that the drilling operations are intended to begin during the next year after the completion of the processing of the collected seismic data. With regard to social responsibility efforts, El-Mulla indicated that the petroleum sector operates according to an integrated strategy in all Upper Egypt governorates to contribute to community development projects in education, health and other activities that contribute to the development of The standard of living of citizens, pointing to the recent efforts of the petroleum sector to reconstruct the village of Khor Awada in Aswan in cooperation with the Orman Association.

The minister and the attendees listened to a presentation by Dr. Nael Darwish, the company’s president, on the most important features of the planning budget for the year 2023 / 2024 and the executive position of the projects being implemented and planned to be established. He explained that the average production of South companies and subsidiaries amounted to about 51. 5 thousand barrels of oil per day during the past 6 months, indicating that PetroGulf has achieved an oil discovery in the Jessom fields and that development operations are being completed. Disclosure, in preparation for putting it on the Internet In order to contribute to raising production rates, pointing out that the company continues to implement and develop its joint projects in order to attract more investments in the field of research and exploration, especially after what it achieved during the first phase of the project to collect seismic research data in the Red Sea region, and that the final processing of seismic data is underway. It was collected in preparation for drilling exploratory wells during the year, with a total investment of more than 150 million dollars, and he also indicated that gas was delivered to one million and 783 thousand housing units from the start of the activity until The end of last December, in addition to the delivery of natural gas to 51 a village within the “Decent Life” initiative until the end of last December, and work is underway to extend networks to 246 a village He also reviewed the company’s community contributions during the current fiscal year, at a value of 20 million pounds, in projects to develop schools, health care, and the development and development of a number of villages in Upper Egypt.

Attended The work of the Geological Society, Alaa Al-Batal, CEO of the Petroleum Authority, Dr. Magdy Galal, President of the Egyptian Natural Gas Holding Company “EGAS”, and Dr. Hisham Lotfy, Assistant Minister For legal affairs and accountant Hisham Noureddine, head of the central department of the minister’s office, engineer Ahmed Al-Khalifa, head of the central department for projects in the ministry, accountant Ashraf Qutb, head of the central department for financial affairs in the ministry, engineer Sherif Hasaballah, undersecretary for petroleum affairs, and Dr. Samir Raslan, head of the central administration for exploration affairs and supervisor of contracts and agreements in the ministry, and professor Ahmed Randi, head of the central department of communications in the ministry, accountant Abdel Hamid Desouky, deputy minister at the Central Auditing Organization, representatives of the agency, Dr. Youssef Gharbawy, president of South Valley University, and Mr. Mohamed Gibran, head of the General Union of Workers in the Petroleum Sector.