El-Molla emphasized the importance of innovative solutions and exceptional, non-traditional performance.
Minister of Petroleum directs EGPC to accelerate digital transformation and implement ERB system — Business Today
Egypt's Minister of Petroleum and Mineral Resources, Engineer Tarek El-Molla, emphasized the importance of the Egyptian General Petroleum Corporation's (EGPC) economic role in utilizing and developing the country's petroleum resources, and ensuring its continued exceptional performance.
During a meeting with the executive council of the EGPC, El-Molla emphasized the importance of innovative solutions and exceptional, non-traditional performance, especially in light of the current challenges. He noted that the EGPC represents the ministry's executive body.
The minister directed the EGPC to maximize and increase production of petroleum resources while committing to cost control policies and consumption, integrating between companies, creating an attractive investment climate, supporting foreign partners, and specifically focusing on research, exploration, and production, which is the cornerstone of petroleum activities.
El-Molla also emphasized the importance of accelerating digital transformation and implementing the ERB system, which has become one of the most important tools that supports efforts to strengthen monitoring and control, contributing to maximizing and improving performance while reducing consumption and expenses.
Additionally, he urged the EGPC to continue updating and developing existing entities, mechanisms, and monitoring systems, enabling highly qualified and ambitious young professionals, which will have a positive impact on the achievements and stability of local petroleum supply.
Egypt has been making significant strides in boosting its oil and gas sector in recent years. In 2021, the country announced several new oil and gas discoveries, signaling its potential to become a major global player in the energy market.
The government has also taken measures to increase foreign investment in the sector, with several international companies already operating in Egypt's oil and gas fields. Furthermore, Egypt has made significant progress in increasing its natural gas production, enabling the country to become a major regional supplier of liquefied natural gas (LNG).
