EGPC reviews progress on clean energy transition projects

Updated 2/9/2025 2:24:00 PM

Arab Finance: The Egyptian General Petroleum Corporation (EGPC) held its weekly Energy Transition Committee meeting to review the progress of projects supporting the shift toward clean energy, as per a statement.

The meeting aligns with the Ministry of Petroleum and Mineral Resources’ strategy to accelerate the energy transition and reduce dependence on fossil fuels, focusing on new and renewable energy sources and the recovery of flare gas.

CEO of EGPC Salah Abdel Kerim emphasized that the energy transition is a strategic necessity to ensure the sustainability of the petroleum sector and enhance its competitiveness.

He highlighted the importance of raising awareness about renewable energy projects and their economic benefits, noting the corporation’s openness to strengthening cooperation with partners through flexible incentives that help speed up cost recovery and address implementation challenges.

Abdel Kerim further explained that EGPC adopts an integrated vision to optimize operations, reduce costs, and maximize the use of natural resources, in line with global clean energy trends.

Ahmed Ghassan, EGPC's CEO Deputy Assistant for Planning and Projects and head of the committee, presented a detailed report on the progress of several key projects.

He noted the completion of an electricity generation project using solar cells at Belayim Petroleum Company, with a capacity of 8 megawatts and an investment cost of $8.3 million.

The project achieves an annual energy saving of 20.4 megawatts and reduces carbon emissions by 4.1 tons equivalent annually, generating $788,000 in annual savings.

In addition, the first phase of the project to connect several wells to a central power generation station in Khalda’s Menace MU field has been completed, with the second phase underway.

Eight more wells were recently connected to the network at a total investment of $12 million, resulting in an annual saving of 19,000 tons of diesel and reducing carbon emissions by 61,000 tons of CO2 equivalent, with annual savings of $15 million.

Work has also begun on a new 13-megawatt power station project in Khalda fields, with similar projects progressing at Petroshahed and Petrofarah.

In the Esh El-Malaha fields, the first phase of a power station with a 1.4-megawatt capacity out of a planned 5 megawatts is expected to be completed in the first half (H1) of 2025.

Additionally, nine flare gas recovery projects are underway to capture and convert recovered gases into value-added petroleum products or direct them to the national natural gas network.