Now while we are at the end of 2017 with its challenges and difficulties that we faced to meet the obligations of South Valley Egyptian Petroleum Holding Company towards the Egyptian petroleum sector and the national economy through the distinguished position reached by the company during previous years in all stages of the Petroleum industry, beginning from exploration and drilling activities, that could lead to new oil and gas discoveries to discovery of new Fields and increase the existing Fields production rates, along with the expansion of refining, processing and marketing to meet the domestic demand of petroleum products.
Fulfilling the goal of establishing the South Valley Egyptian Petroleum Holding Company, which is the development of an important and vital part of our Country, Upper Egypt, the company has launched aproject to collect geophysical Data for the open areas, within the company’s scope of work in the determined Region, to contribute in updating the available Data and adding new Data, a Contract is signed with an international Consortium of Companies to collect geophysical Data in the Red Sea and the onshore area in the south of Egypt.
In addition, the Egyptian South Valley Petroleum Holding Company, in Cooperation with the Egyptian Nuclear Materials Authority, carried out aerial magnetism surveys in the open areas, that Project aims to achieve Cooperation between National Agencies to maximize interest and reduce Cost by sharing them, in addition to expanding the geographical Area of the Research and Exploration Areas to include the discovery of basins in new areas.
In order to ensure the Success of the previous period and to achieve the company’s leading Role in serving the Country and to reach the Position it deserves, South Valley Egyptian Holding Company has developed its Business Strategy to include working on several Axes, the most important Axis is to maintain the competitiveness of Egypt to attract direct Investment in exploration and exploitation under new Oil Concession Agreements with the diligent pursuit for the Application of modern and advanced Technologies to study open Areas and market them in future Auctions in Cooperation with international Companies, that are able to collect recent Data.
In addition to increasing the Production of existing Companies through the Application of innovative Techniques and methodologies to improve the rates of Production and development while taking advantage of our strengths to expand in a deliberate manner to increase the value added with a focus on alternative energy sources through the use of non-traditional energy resources, especially oil shale and underground heat energy in generating electricity.
I would like to extend my sincere thanks and gratitude for Eng. Tarek Al Molla, the Minister of Petroleum and Mineral Resources, for the full support and guidance which have had a great impact on the company’s success and distinction during the last period.
I would like to thank the Board of Directors, the Company’s Leaders, the Subsidiaries and all the Employees for their great Efforts and sincere Work to achieve this success which we are proud of today.