Written by: Salma El-Sakka
Egyptian oil refinery operation rates rose significantly to reach 82 percent compared to about 63 percent previously, thanks to the implementation of comprehensive and planned inspection and maintenance work over the past year. These developments came as part of the petroleum sector's continuous efforts to enhance operational capabilities and meet the needs of the domestic market.
Developing Exploration and Production Activities and Securing Supplies
The past period witnessed serious steps to enhance investment attractiveness in the petroleum sector and narrow the gap between production and consumption. The relevant authorities are working to implement a large-scale seismic survey program in the Western Desert covering an area approaching 110,000 square kilometers, alongside expanding the use of the latest technologies in the Gulf of Suez in cooperation with companies operating in the region. Various contracts have also been concluded to secure the stability of energy and petroleum product supplies by diversifying sources of utilizing ports and logistical facilities.
Energy Efficiency and Expansion in Emission Reduction Applications
The petroleum sector focuses on achieving a balance between energy security, sustainability, and emission reduction. Current plans include studying projects to apply carbon capture and storage technology in the fertilizer and cement sectors to support the competitiveness of Egyptian products in global markets. Opportunities to utilize geothermal energy as an alternative to diesel generators in some applications are also being evaluated, most notably a pilot project in the Hammam Faraun area for electricity generation.
Gas Exploitation Opportunities and Petrochemical Industry Development
Reports related to the natural gas sector confirmed that the volume of untapped potential in the Mediterranean region opens wide horizons for exploration and research activities, amid continuous efforts to improve economic terms and provide accurate data for investors. On the manufacturing industries front, the relevant companies continue to prepare a roadmap for developing the petrochemical sector and maximizing the added value of natural gas by converting it into products that serve the domestic market and boost national exports.
