CAIRO- The Ministry of Petroleum and Mineral Resources announced the completion of the second phase of the three-dimensional seismic surveys project in the Red Sea region.
Minister of Petroleum and Mineral Resources Tarek el-Molla said Thursday that the ministry’s strategy is based on intensifying plans and programmes to support excavation operations, increase production and reserves of crude oil and natural gas.
The strategy aims to increase production rates, meet local markets needs, cut imports and bridge the gap between production and consumption, the minister said.
He also reviewed a report on efforts exerted by South Valley Egyptian Petroleum Holding Company “GANOPE” in co-operation with the Egyptian General Petroleum Corporation to increase crude oil production.
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