By Doaa Farid
According to a statement by the Ministry of Petroleum, the Egyptian Engineering for the Petroleum and Process Industries Company (ENPPI) was awarded a new contract in Venezuela valued at $50m.
The statement, published on the ministry’s official website, added that Abdel Nasser Salah, head of ENNPI, signed the PAGMI project contract on Monday in Cairo after the Venezuelan oil company signed it in Caracas, Venezuela’s capital.
The ministry said that the project includes the establishment of a station that is to purify and adjust the standards of gas received from Venezuelan offshore fields, before it is pumped to the national Venezuelan grid.
Minister of Petroleum Sherif Ismail met with Venezuela’s ambassador to Egypt to discuss the aspects of cooperation between the two countries and the possibility of an ENNPI expansion through the implementation of new projects. According to the ministry, ENNPI was successful with its projects in Venezuela and has proven to be at a par with global levels of performance.
Venezuela’s ambassador returned to Egypt earlier in September after being summoned for consultations by Venezuelan president, Nicolas Maduro, in mid-August.
ENNPI will supervise the construction work of the gas project, located in northwest Venezuela, and take over the project management in partnership with Venezuelan Company Y&V. Completion of the project construction is planned for mid-2015.
ENNPI had previously paved the site and conducted the engineering and supply work of the PAGMI project.
The company, which provides engineering, procurement, construction supervision, and project management services for the petroleum, petrochemicals, and power in Egypt, North Africa and the Middle East, was established in 1978. The Egyptian General Petroleum Cooperation is the principal shareholder, with 97% of total shares.
During the past 10 years, ENNPI invested over $200m in oil and gas projects.
