Egypt’s state-owned Ganoub El-Wadi Petroleum Holding Co. (Ganope)’s refinery in Assiut will fill 76% of oil needs in Upper Egypt governorates in the upcoming fiscal year, chairman Abu Bakr Ibrahim said Thursday.
Ibrahim stated that Ganope is currently working on upgrading refinery activities and distributing petroleum products to meet with citizens’ needs in the Upper Egypt area.
Ganope’s Assiut refinery is playing strategic role in providing fuel supplies to the Upper Egypt area, the chairman noted, referring to the company’s strategy to boost production and refining capacity in governorates.
Upon Ganope’s strategy, Nile Oil Company shall add new gas and car services stations to reach 75 stations at mid 2016, he added.
Moreover, Ibrahim noted that Ganope have a plan to increase production rates through boosting drilling and oil and gas explorations by attracting more foreign investments and launching new bids to make use of concession areas that have not been explored within the past years.