Petrojet’s business volume to reach EGP 215bn by 2028
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, underscored Petrojet’s pivotal role in executing large-scale energy and infrastructure projects both in Egypt and internationally.
Speaking at the company’s general assembly meeting, Walid Lotfy, Chairperson of Petrojet, announced that the company had successfully completed 265 projects in 2024 alone, with a total value exceeding EGP 80bn. In addition, Petrojet secured new contracts worth EGP 112bn, with 60% of these contracts originating outside Egypt. As a result, the company’s total business volume, extending through 2028, has now reached EGP 215bn.
Petrojet also reported a net profit of over EGP 14bn in 2024 while achieving more than 193 million safe working hours, demonstrating its unwavering commitment to occupational health and safety standards. The minister praised the company’s contributions to national infrastructure projects and emphasized the need to leverage its workforce of 42,000 skilled employees and its strong technical, technological, and manufacturing capabilities to further its involvement in future projects.
During the meeting, Badawi highlighted the importance of promoting Petrojet’s expansion into international markets and instructed immediate coordination with the Ministry of Foreign Affairs to organize meetings with diplomatic missions in Cairo. The objective is to showcase Petrojet’s expertise in executing large-scale projects and to maximize its collaboration with the African Petroleum Producers Organisation (APPO) in strengthening its regional and global presence. He also commended the company’s recent efforts to enter critical sectors such as seawater desalination plants, renewable energy projects, and green hydrogen initiatives.
Walid Lotfy presented Petrojet’s achievements and strategic direction for 2022-2026, coinciding with the company’s 50th anniversary since its establishment in 1975. He outlined how Petrojet has successfully expanded its international footprint by working with new clients and forming partnerships in Saudi Arabia, Libya, Jordan, the UAE, and Kuwait. The company has also taken steps to target industrial projects in Iraq, Algeria, Oman, and Croatia, while simultaneously exploring opportunities in non-traditional markets such as Mozambique, Angola, and the Congo. Additionally, Petrojet has diversified its activities to include new sectors such as seawater desalination, green hydrogen production, and solar energy projects, collaborating with global firms to execute innovative and specialized ventures.
One of the key announcements made during the meeting was Petrojet’s initiation of procedures to establish a joint venture in Algeria with Sonatrach for the manufacture of static equipment. This project will be the first of its kind in Algeria, with investments from both Egyptian and Algerian petroleum ministries, reflecting growing bilateral cooperation. In addition, Petrojet is preparing to establish a manufacturing center in Saudi Arabia’s King Salman Energy Park in collaboration with Saudi Aramco, further strengthening its presence in the Gulf region.
The company has also made significant strides in enhancing local manufacturing capabilities in Egypt, aiming to increase the domestic component of its projects and reduce reliance on imports. Petrojet has introduced advanced manufacturing technologies to expand its production capabilities and ensure that its projects meet global industry standards. As part of this strategy, it recently inaugurated a manufacturing center in Assiut and has begun developing new centers in Tebbin and New Alamein. These facilities will play a crucial role in supporting Egypt’s major industrial and development projects, including the Dabaa Nuclear Power Plant.
The general assembly meeting also addressed the company’s focus on digital transformation, human resource development, and environmental sustainability. Efforts to integrate advanced digital management systems have been prioritized to enhance project efficiency, while new training programs incorporating artificial intelligence and emerging technologies are being implemented to upskill the workforce. In addition, Petrojet has intensified its sustainability initiatives, aiming to reduce its carbon footprint and align with Egypt’s national environmental goals. These comprehensive measures position the company for continued growth and reinforce its leadership in the energy and infrastructure sector on both the local and international stage.
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