The U.S. Trade and Development Agency awarded grants to the Amreya Petroleum Refining Company (APRC) and Suez Oil Processing Company (SOPC) for feasibility studies to modernize each company’s refinery.
“These grants are a part of USTDA’s ongoing collaboration with the Ministry of Petroleum and Mineral Resource to make Egypt a leading energy hub,” said Todd J. Abrajano, USTDA’s Chief Operating Officer and Head of Agency. “These grants to APRC and SOPC will increase the efficiency and profitability of their refineries, while reducing environmental impacts. USTDA’s involvement will also create significant business opportunities for American firms.”
The APRC study aims to improve overall efficiency and profitability of the APRC refinery by up to 25 percent and reduce its greenhouse gas emissions by approximately 20 percent. The SOPC study is also intended to increase gasoline production and production capacity, as well as enhance gasoline quality from the SOPC refinery to meet more stringent current fuel standards. SOPC has selected Illinois-based UOP to carry out its study.
Egypt’s Minister of Petroleum and Mineral Resources, H.E. Tarek El-Molla noted, “Today’s signing is a remarkable example of the continuous strategic partnership between Egypt and the United States. I am confident that these agreements are another step in our continuous path of modernizing Egyptian refineries, opening new horizons towards upgrading and development of projects with the Egyptian refineries in line with the Egyptian Ministry of Petroleum and Mineral Resources’ vision and will be a building block in our mutual cooperation for the benefit of both countries.”
U.S. Ambassador to Egypt Jonathan R. Cohen noted, “These grant agreements total $1.4 million and underscore the mutual focus of Egypt and the United States on expanding the robust trade and investment relationship between our countries. They will also help Egypt achieve its goal of becoming a regional energy hub, which is also priority for the United States.”
Ali Fouad Badr, Chairman of APRC said, “Today, we launch the first cooperation between USTDA and APRC. The grant offered by USTDA will provide a necessary study for energy management systems, improve operation performance and increase the level of automation in the refinery. Looking forward to continuing USTDA support in this and future projects.”
Finally, Hussein Awad Chairman of SOPC said, “The modernization and capacity enhancement of the existing naphtha complex is the smart goal for the feasibility study jointly funded by USTDA and UOP and expected to be completed next year. It is an excellent example of collaboration between USTDA and the Egyptian General Petroleum Corporation under the leadership of Ministry of Petroleum and Mineral Resources, with a vision to maximize investment efficiency through maximum utilization of existing assets.”
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