Petrojet’s Revenues Hit EGP 40B in 2022

Minister of Petroleum and Mineral Resources Tarek El Molla confirmed that the optimization of human cadres as well as assets and equipment have been critical factors in the continued success of petroleum projects implemented by the sector’s companies, especially Petrojet.

Petrojet’s role in executing petroleum projects has grown both locally and regionally, now including projects in major Arab oil-producing states such as Saudi Arabia and the UAE, according to the minister’s statement. 

This came during the General Assembly of the Petroleum Projects and Technical Consultations Company (Petrojet) at the company’s headquarters to approve the business results for the year 2022. The meeting took place in the presence of petroleum sector leaders, members of the Board of Directors, and representatives of the Central Auditing Organization.

El Molla praised the company’s accomplishments in human development, inclusiveness, and equality as well as in promoting the role of women in a sector. This comes as female engineers and workers in the Petrojet work system have proven their competence. 

Petrojet succeeded in achieving an unprecedented volume of contracts to implement projects inside and outside Egypt, with a value of EGP 123.5 billion, an increase of 106% over the volume of contracts in 2021, with EGP 42 billion for projects inside Egypt and EGP 81.5 billion for projects outside Egypt. This is an indication of great growth in the volume of the company’s external business, which for the first time in its history, exceeded the volume of internal business, Waleed Lotfy, the company’s chairman, stated. The company’s revenues jumped by 16% to reach EGP 40 billion.