Egypt: ENPPI wins Saudi oil project tender

Egypt’s ENPPI won a major global tender for a new petrochemical project in Saudi Arabia to treat crude oil aiming to increase production rates, winning new contracts to look for crude oil in Saudi Arabia as part of the ministry’s vision of expanding its work abroad.

The Petroleum Ministry announced that ENPPI won the tender at more than half a billion dollars, after competing with a number of Saudi and international companies.

He said that Egyptian oil companies winning new contracts outside Egypt comes as part of the strategic vision of the Ministry of Petroleum to expand its investments abroad.

Mulla added that investing in the potential of Egyptian companies in foreign projects contributes to achieving the highest added value of the national economy, and consolidates its chances to win more projects.

The ENPPI would carry out the basic and detailed specifications of the project and buy the implementation works, pre-operating and operating-aid work, Mulla said.

According to a report by ENPPI, the total volume of its work in oil projects in Saudi Arabia will reach more than US$1.25 billion after the implementation of this project. The report added that the project represents a new qualitative leap for ENPPI in terms of its size and the technical potentials.


SOURCE: Egypt Independent

More News

Uganda: DR Congo Partners with Uganda to Construct 1,200km connecting road

Uganda has reached an agreement with DR Congo to construct 1200km road following the closure of the border with Rwanda, a move ...

Ghana: 200,000 tonnes of cocoa sold with new premium to support farmers

The sale followed a major overhaul of how cocoa was priced with the introduction of a USD 400 per tonne premium for ...

Libya: National Oil Corporation revenues rise in October

The company’s revenues rose by 21 percent in October despite security challenges in the country. The rise was achieved through ...

Togo : Aliko Dangote lance une cimenterie et une unité phosphatière

En partenariat avec le gouvernement togolais, Dangote va investir dans un projet de phosphate de 2 milliards de dollars US et va ...