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· The Petroleum Ministry has made investments to the tune of US$519 million
· These investments are coming up at Badr El-Din Petroleum Company (BAPETCO), Rashid Petroleum (Rashpetco) and Burullus Gas Company during the fiscal year 2021-2022
· The petroleum sector is implementing an integrated strategy to intensify exploration activities with the aim to increase reserves and production of crude oil and natural gas
The Petroleum Ministry has made investments to the tune of US$519 million. These investments are coming up at Badr El-Din Petroleum Company (BAPETCO), Rashid Petroleum (Rashpetco) and Burullus Gas Company during the fiscal year 2021-2022.
The general assembly’s of the firms will endorse their budgets of 2021-2022. The petroleum sector is implementing an integrated strategy to intensify exploration activities with the aim to increase reserves and production of crude oil and natural gas.
Revealing this information Tarek El Molla, Minister of Petroleum and Mineral Resources of Egypt stressed the need to improve the health, safety and industrial security systems, while maintaining precautionary measures on all sites. He said it was important to create a safe working environment to guarantee continued production. He also called for action to reduce costs, rationalize spending and increase production rates.
