ENAP Sipetrol Egypt

ENAP Sipetrol Egypt wishing you a safe and blessed Eid Al Adha with happiness and health! Eid Mubarak!

ENAP Global CEO, Mr. Julio Friedmann, visited ENAP Sipetrol Egypt Branch to oversee the overall company operations in the country, accompanied by Corporate Finance & IR Director, Mr. Jose Miguel, and Argentina Operations Manager, Mr. Gustavo Guisolfo. ENAP Sipetrol Egypt branch GM, Ms. Denisse Abudinén along with the management team presented the company's activities in Egypt in its operated concession areas in the Western and the Eastern Desert and future plans to enlarge the company portfolio in Egypt. In addition to the implementation of sustainable energy initiatives in East Ras Qattara concession to replace the diesel consumption for power generation through the utilization of gas produced in the field thus eliminating the gas flaring and decreasing the emissions, and the company's Corporate Social Responsibility initiatives at the areas where we operate. The visitors were then escorted to East Ras Qattara (ERQ) where they met with Petroshahd Joint venture Company management and visited Petroshahd crude oil receiving station and Drilling rig at Shahd SE-62 well site highlighting the imperative standards of the HSE, Operational and production perspectives.

Egypt’s Minister of Petroleum and Mineral Resources Eng. Tarek El-Molla met with H.E. Chilean Ambassador in Egypt, Roberto Ebert, ENAP Global CEO, Julio Friedmann, and Sipetrol CEO and ENAP Sipetrol Egypt branch General Manager Denisse Abudinén, where they discussed the company’s activities in Egypt and its future plans in its areas of operations in the Western and Eastern Deserts. During the meeting, El Molla stressed on the successful partnership between the petroleum sector and the company aiming to unleash the potential of petroleum resources in Egypt, and the existing cooperation represents a model of serious and fruitful cooperation, pointing to the available investment opportunities and the potential that Egypt enjoys in the field of oil and gas and the areas in which this cooperation can be expanded to achieves both sides’ goals. The Minister praised the company's desire to acquire new concession areas, strengthen its exploration operations, increase production, and pump additional investments into the Egyptian petroleum sector. Mr. Friedmann highlighted that ENAP is a Chilean state oil company which has been investing in Egypt since 1998 and currently has operations in the Western Desert at East Ras Qattara concession and in the Eastern Desert at West Amer concession, indicating the company's commitment to continue operating in Egypt and increasing production and that the company's strategic plan aims to expand its business portfolio in Egypt and enhancing its investments in light of the good results it has achieved. Also added, that the company's extensive experience and the advanced technology it possesses in the field of exploration, ensuring that the company's desire to contribute to economic growth and sustainable development and enhance its position as a strategic partner in the petroleum sector in Egypt. Mr. Friedmann concluded that the company's corporate social responsibilities projects near its areas of operation have provided training programs and workshops for residents of neighboring areas, improving educational resources for schools and houses infrastructure development, as well as providing medical equipment and supplies to hospitals. Currently ENAP Sipetrol Egypt is operating East Ras Qattara (ERQ) Concession in the Western Desert with a participation interest of 50.5% and 100% in West Amer block in the Eastern Desert along with total investments of $581 Million inception to Date, and its total current production is about 10,000 barrels of oil per day. The meeting was attended by Engineer Alaa Hagar, Undersecretary of the Technical Office.

Happy Eid from ENAP Sipetrol Egypt family to you and all your beloved ones. We hope this Eid brings you endless blessings, abundant joy,?and everlasting peace. Eid Mubarak!

ENAP Sipetrol Egypt wishing you and your loved ones a Ramadan filled with the blessings of Allah and moments of spiritual reflection.... Ramadan Kareem