During the year 2021, and despite the global challenges and difficulties we all faced, South Valley Egyptian Petroleum Holding Company “GANOPE” has managed to meet its obligations 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.
Under the guidance of H.E. the Minister of Petroleum and Mineral Resources, to safeguard the employees, assets and the surrounding environment, South Valley Egyptian Petroleum Holding Company “Ganope” succeeded to apply top standards of HSE within the Company’s supervision scale and its Affiliated Companies, in harmony with Government’s Precautionary Measures, to protect employees against COVID-19. Ganope also, is keen to maintain maximum utilization of natural resources and achieving the concept of Sustainable Development for the benefits of future generations.
As one of our major strategies, is to maintain the competitiveness of Egypt to attract direct Investment in exploration and exploitation under new Oil Concession Agreements, successfully, the fiscal year 2020/2021 has witnessed the signing of 3 agreements, for the Red Sea Region, with the international companies Chevron, Shell and Mubadala, to implement technical studies, programs and seismic surveys of Red Sea concession areas, to announce the beginning of a new and effective Exploration Era which will result in the change of the Petroleum Map in this region. Currently, the 3D seismic surveys plans are being outlined, by latest technology, to be carried out by the end of this year.
GANOPE continues to implement and develop its multi-client projects, to attract foreign investments in the field of research and exploration.
GANOPE also, promotes aeromagnetic and airborne gravity data which was collected through the project with Nuclear Materials Authority (NMA). The data was sold to “Lukoil” company, and further negotiations are going on with the parties interested in GANOPE areas.
During the fiscal year 2020/2021, GANOPE managed to overcome the natural production decline by the application of innovative Techniques and methodologies in exploration and development activities, through intensive drilling and workover programs that includes 6 exploratory wells, as well as 14 development wells and workover 35 wells.
Fulfilling the vision of the Ministry of Petroleum for Upper Egypt development and to upgrade the citizens’ standard of living, “GANOPE” executed the Natural Gas Connection Project in Upper Egypt Governorates, in collaboration with Egyptian Natural Gas Holding Co. “EGAS”, and by the end of December 2021, the total number of residential customers connected with natural gas has reached 1million and six hundred and thirty seven thousand customers, in addition to industrial and commercial customers.
Finally, 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 Subsidiaries and all the Employees for their great efforts and sincere work to achieve this success which we are proud of today.