Petroleum minister witnesses signing several MoUs during EGYPS 2019

CAIRO – 12 February 2019: Minister of Petroleum and Mineral Resources Tarek al-Molla witnessed the signing of several memoranda of understanding and cooperation on the sidelines of EGYPS 2019 conference.

The first MoU was signed between the Egyptian Petroleum Company and Petronas of Malaysia to exploit the surplus capacity at the oil complex in al-Ameriya through the establishment of a new company to market the quality of the new oil, which will be produced by a common brand for use in the local market and export.

The Petroleum Ministry clarified that joint cooperation will also be established in the field of transfer and exchange of experiences to benefit from the research centers of the two companies. This comes within the strategy of the Ministry of Petroleum to develop its services and produce new types of oils commensurate with modern engines.

The minister also witnessed the signing of a MoU between the ministry and Apache Egypt to support the Young and Medium Leadership Development Program by developing and implementing a rapid training program for successful employees in the Petroleum Sector Development and Modernization Program, preparing them for future leadership.

“These include practical training for the transfer of necessary expertise and training programs through Apache employees and through experts, within the framework of the program of rehabilitation of young and medium leaders in the oil sector,” the ministry stated.

The ministry also signed a MoU with the American Chamber of Commerce to support Apache Egypt to prepare and implement a program aiming to train and qualify middle leaders in the petroleum sector to refine their expertise and develop their skills; the program will start by providing training programs for 50 trainees chosen by the ministry.

The program covers effective work systems, innovation and skills, team empowerment, achieving best performance, and how to manage change and implement strategies.
“The program is the first of its kind to be launched by the ministry and the chamber in the framework of their joint cooperation,” the ministry stated.

Moreover, Molla witnessed the signing of a memorandum of understanding between Schlumberger and the Egyptian Drilling Company to support the partnership between the two sides in the use of modern technologies, raising the efficiency of the oil sector, increasing the production rates and preparing new models for submission to the new companies that will enter the Egyptian market.

On the same note, ENPI and SAP signed a cooperation agreement to implement an integrated asset and resource management system for refining and marketing companies of the Petroleum Authority and to establish integrated information systems.

The systems are set to ensure the flow of information between the authority, the holding companies and the subsidiaries under the Seventh Development and Modernization Program.

The agreement also stipulated the construction of a technical support center within the petroleum sector to serve the sector companies and select distinguished cadres from the sector to manage it.

EGYPS 2019 brings together Egyptian and North African government representatives, key project owners, NOCs and IOCs, international service providers as well as engineering, procurement & construction companies, in addition to EPC contractors, consultants and financiers to address the evolving opportunities in the Egyptian and North African energy arena.