Egypt: Minister of Petroleum forms advisory committee to enhance oil field productivity

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Egypt - Karim Badawi, Minister of Petroleum and Mineral Resources, has announced the formation of an advisory committee dedicated to enhancing oil field productivity and managing petroleum reservoirs through scientific and practical approaches that ensure sustainability, efficiency, and safety.

The committee will comprise current officials responsible for exploration and production, alongside experts and veterans who have significantly contributed to the petroleum sector. It will also have the flexibility to consult with distinguished Egyptian experts, both domestically and internationally.

The committee will convene regularly to review recommendations, establish implementation mechanisms, support workers, and overcome obstacles. It will ensure the continuous accuracy of execution methods, focus on applying necessary technologies, and encourage practical innovations that promote safe operations. Additionally, the committee will raise awareness among employees about the importance of these practices and facilitate the exchange of expertise, thereby adding value to ongoing efforts.

This announcement was made during an extensive meeting held by the Minister of Petroleum, which included the CEO of the Egyptian General Petroleum Corporation, the heads of the Egyptian Natural Gas Holding Company (EGAS) and South Valley Egyptian Petroleum Holding Company, along with their deputies responsible for agreements, exploration, production, and projects, as well as the Ministry’s Undersecretaries for Agreements, Exploration, Production, and the head of the Central Administration of the Minister’s Office.

Minister Badawi emphasized that the primary goal during the current phase is to increase production rates. He highlighted the critical role of human resources, creative ideas, and modern technologies in achieving this goal. He also noted the importance of recent extensive field visits, dialogues with workers at petroleum production sites, and meetings with the heads of both Egyptian and foreign production companies, as well as many partners in the petroleum sector.

The minister elaborated on the Ministry of Petroleum and Mineral Resources program, which was presented to the parliamentary committee tasked with reviewing the new government’s program. This program focuses on improving investment attraction policies and offering attractive investment opportunities through innovative investment strategies.

The goal is to fully exploit the sector’s potential and implement practical solutions to address the challenges posed by the gap between production and consumption. Efforts are being concentrated on intensifying and incentivizing oil and gas exploration activities, as well as encouraging partners to inject more investments into developing discoveries and carrying out additional activities to ensure a sustainable supply.

He further indicated that the work plan aims to continuously improve the efficiency and expertise of petroleum personnel, enhance operational efficiency and production economics, and ensure strict adherence to occupational health, safety, and environmental protection standards.