Egypt’s Minister of Petroleum and Mineral Resources, Tarek El-Molla, stated that developing petroleum ports is an integral part of the ministry's strategy to turn Egypt into a regional hub for oil and gas trading, the ministry said in a statement.

El-Molla said Al-Hamra Petroleum Port on the Mediterranean Sea is one of the key ports witnessing unprecedented expansions, which are currently underway.

The expansion works of Al-Hamra Port, which will contribute to the country's ongoing development plans at El-Alamein, spans over 120 feddans. They will include the establishment of two new warehouses (no.9 and no. 10) and the addition of new facilities.

Over the year, the port received and handled 82 million barrels of crude oil, averaging about 225,000 per day.

In March, a new warehouse (no. 7) has been operated, raising the storage capacity at the port by 40% to 2.13 million barrels and another warehouse (no. 8) is currently under construction. These two warehouses have a total investment cost of $64 million.

 

 

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