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  • The Petroleum Sector Modernization Project marks the true beginning of activation and implementation of efficiency enhancement activities within the sector, commencing in 2017. Under the project's framework, Program 4-B was designated to improve energy efficiency such as:

    -      Raising awareness through conducting 72 training programs for approximately 1,000 engineers and chemists in the petroleum sector, which work to deepen the concepts of more governance and efficiency in energy.

    -      Establishing integrated databases connected through systems for rationalizing and improving energy efficiency data, as well as preparing a mechanism to monitor performance, and setting an annual goal to reduce energy consumption in sector companies.

    -      Preparing and following up on the implementation of approximately 340 measures and projects to raise the efficiency of energy in the sector, which led to achieving annual savings of $135.5 million and a reduction of 1.2 million tons of carbon dioxide equivalent annually.

    -      Starting to implement some technologies that have proven their economic feasibility and have a positive return and require investment costs, such as the project to utilize the waste heat from turbine exhaust to generate electrical power and double the operational efficiency of GASCO, for which financing worth $140 million was provided from the European Bank for Reconstruction and Development.

    -      Implementing integrated studies for projects to improve energy efficiency to reduce energy consumption and operating costs at the Suez Petroleum Manufacturing, Al-Nasr Petroleum, and Alexandria Petroleum companies, in addition to implementing energy technical references for five companies in the sector, which resulted in many projects and procedures, as many cost-free and low-cost procedures were implemented as well. High investment costs were implemented at the Suez Petroleum Processing Company by providing a development loan worth 250 million US dollars from the European Bank for Reconstruction and Development, and work is underway to provide financing to implement investment projects resulting from studies and technical reviews of energy in the rest of the companies.