11:55 ص
Friday, April 22, 2022
Books – Mustafa Eid:
Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, discussed with Khaled Hashem, head of Honey Well International for North Africa, and Mohamed Muhaisin, president of the company for the Middle East, about its expansion in Egypt, according to a statement from the Ministry of Petroleum today, Friday.
The meeting dealt with the projects in which Honey Well is participating and the opportunities to increase its activities in the petroleum sector in light of the company’s great desire to expand its business portfolio in Egypt and participate in strategic projects, especially in the fields of green fuels and the provision of advanced technologies to reduce emissions and benefit from them, according to the statement.
According to the statement, Hashem expressed the strong desire of Honey Well to work in the fields of petrochemicals and produce green fuels for aircraft catering, with investments amounting to about $200 million.
The company also wants to invest in projects to install RTG devices to monitor warehouses in partnership with the Petroleum Authority, and to manufacture the equipment needed for the project in Egypt, which will save between 20-30% of the manufacturing cost, according to a ministry statement.
The Minister of Petroleum said that the sector attaches great importance to digitization projects within the framework of the digital transformation program within the project to develop and modernize the sector and to apply the latest technologies in implementing projects efficiently to increase production, reduce waste and reduce costs.
He pointed to the interest in producing products with standard specifications in accordance with environmental policies and controls, benefiting from the best practices and successful global models in green energy projects, and selecting the best important elements from them in terms of their applicability in Egypt.
The Minister welcomed Honey Will’s desire to participate in projects and initiatives to reduce emissions, capture and store carbon and benefit from it, which the petroleum sector is preparing to launch during the COP27 summit.
