The Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, announced today, Tuesday, the formation of an advisory committee whose primary mission is to work on increasing field productivity and managing oil reservoirs according to a scientific and practical approach that achieves sustainability, efficiency and maintaining safe operation.
The Ministry of Petroleum said in a press statement that the committee will include current officials responsible for exploration and production, competencies and those with accumulated experience who have held positions in the petroleum sector and have prominent and distinguished contributions in this field. It can also seek the assistance of those it deems to be distinguished Egyptian expertise inside or outside the country.
The committee will hold its periodic meetings to follow up on recommendations, establish implementation and follow-up mechanisms, support workers, overcome obstacles, and continuously ensure the accuracy of implementation mechanisms and its interest in applying the necessary technologies, ideas and innovations that can be applied, safe operation, and increasing awareness among workers of its importance and exchanging and transferring experiences in a way that maximizes and gives added value to existing efforts.
The statement said that this came during an expanded meeting held by the Minister, which included the CEO of the Egyptian General Petroleum Corporation, the heads of the Egyptian Natural Gas Holding Company (EGAS) and the South Valley Egyptian Petroleum Holding Company, and their deputies for agreements, exploration and production, and the Ministry's undersecretaries for agreements, exploration, production and projects.
Badawi stressed that the main goal during the current stage is to work on increasing production rates, stressing the importance of the effective role of human energies, creative ideas, innovation, modern techniques and advanced technology in implementing this, pointing to the importance of intensive field visits, listening and dialogue with workers at work sites and petroleum production, and a series of meetings held with heads of Egyptian and foreign production companies and many partners in the petroleum sector.
The Minister explained that work is underway to implement the program of the Ministry of Petroleum and Mineral Resources, which he submitted to the parliamentary committee formed to study the new government's program, which includes working to improve investment attraction policies and provide attractive investment opportunities with a new investment mentality that contributes to the full exploitation of the sector's capabilities and developing and implementing applicable solutions to address the challenges related to the gap between production and consumption.
He added that work is mainly being done on mechanisms to intensify and stimulate oil and gas exploration and encourage partners to pump more investments to develop discoveries and implement more activities to ensure the sustainability of supplies, noting that the work plan aims to continuously improve the utilization of the efficiency of petroleum cadres and hone their expertise in addition to improving the efficiency and economy of operation and the production process.
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