The Petroleum Ministry has said that the petroleum sector managed to save EGP 813 million annually by implementing measures to improve energy efficiency in 31 petroleum companies.

In a statement on Monday, the ministry said it is currently implementing several investment projects to raise the energy efficiency, with total investments amounting to about dlrs 1.5 billion, to achieve energy savings and reduce carbon dioxide emissions at the Suez Oil Processing Company (SOPC) and the Dahshour compressor station at the Egyptian Natural Gas Company (GASCO).

Five technical reviews of energy efficiency are currently being carried out, in cooperation with the European Union and the Japan International Cooperation Agency (JICA) in the Assiut National Oil Processing Company (ANOPC) and the Egyptian General Petroleum Corporation (EGPC) with the view to opening up new opportunities that could help in implementing investment projects to improve energy efficiency, the statement added.

Egypt has also joined the Global Methane Pledge Energy Pathway, through which it will seek to boost its efforts regarding reducing methane emissions from the petroleum sector.

In June, President Abdel Fattah El Sisi announced that Egypt joined the Global Methane Pledge initiative.

Based on the expertise and funding provided by the initiative, Egypt, in cooperation with the European Bank for Reconstruction and Development (EBRD), is currently carrying out assessments and measurements of methane and volatile organic compound emissions from oil and natural gas facilities in seven sites belonging to the following companies; GASCO, Rashid, Egyptian LNG, Pharaonic Petroleum Company (PhPC), and Petroleum Pipelines Company (PPC) to determine measures and projects to reduce these emissions, the statement added.

During the 5th Edition of Egypt Petroleum Show (EGYPS 2022), a memorandum of understanding was signed between Engineering for Petroleum and Process Industries Company (Enppi), Egyptian Projects Operation and Maintenance (EPROM) and JICA to benefit from the international best practices in this regard, particularly in Japan, India and Thailand, the statement said.

Petroleum Minister Tareq el Mulla issued a decision to form the higher committee for rationalizing and improving energy efficiency in the petroleum sector, it noted.

Source: State Information Service Egypt