12 Egyptian Petroleum Projects to be presented in Economic Summit

Egypt’s Oil Ministry is planning to present 12 projects at the Economic Summit in March. The projects are in sectors of mining, petrochemicals, and refining in addition to extending lines to transfer petroleum products.

The projects to be presented in the Egyptian summit aim to increase the value added of the petroleum materials and to meet the needs of the domestic market.

According to the Egyptian Oil Ministry’s report, the refining projects include

Suez Oil Processing Company (SOPC)’s oils complex, with expected investment cost of US$430 million approximately.

For the refining sector, the Egyptian ministry will present a project to produce high-octane gasoline in favour of Assiut Oil Refining Company (ASORC), with annual investments estimated at US$250 million.

It is also set to present Amreya Petroleum Refining Company (APRC)’s project to create a US$250 million distillation unit, as well as Assiut Oil Refining Company’s diesel hydrocracking project, with investment cost of US$2.5 billion.

For the petrochemicals field, the minister will present four projects at investment costs of US$1.9 billion.

The first project aims to produce biofuel from rice straw and the ethanol from petrochemical materials, at investment cost of US$229 million roughly. The second and third projects target the production of Bio-Ethanol from molasses at investment cost of US$132 million as well as of formaldehyde and its derivatives in Egyptian Styrenics Company (Estyrenics) with investment cost of US$51 million approximately.

The fourth project is for Egyptian Natural Gas Company (GASCO)’s project to produce propylene and its derivatives, with an investment cost of around US$1.5 billion.