Oil And Gas Investment Company | EPICORP

Sokhna refining and petrochemicals project in the presence of H. E Sheikh Essam Saqr, Minister Sameh Fahmy and engineer Hussein Ismail

Sokhna refining

Sokhna Petroleum Refining and Petrochemical Company is one of the Egyptian petroleum sector companies, which was established in May 2007 with local and Arab contributions for the purpose of establishing a project for refining petroleum, separating its derivatives and processing it.

Contributors Sokhna Refining and Petroleum Company

The company’s shareholders’ structure consists of the Egyptian General Petroleum Corporation with a stake of $ 49.980 million, Abdullah Al-Hamad Al-Saqer Company of Kuwait with a share of $ 45 million, the same for the benefit of “Sakia Investment” Company, in addition to a stake estimated at $ 16.20 million for the benefit of “Nile and Gulf Investment Company” Bahrain, in addition to a number of other shareholders.

The most important works and results of Sokhna Refining and Petroleum Company

  • The General Authority for Investment approved the request submitted by “Sokhna Refining and Petrochemical Company” to establish an oil refining project with investments of up to $ 3.5 billion in the free zone system, bringing the number of oil refining companies approved by the Authority to work in this system to 3 companies: “Middle East Midor” – ” Egyptian Refining” next to “Sokhna” with a total investment of $ 8.2 billion, distributed by $ 1.2 billion investments of “Midor”, which the authority agreed to return to the free zone system, and $ 3.5 billion for “Egyptian Refining” in addition to the $ 3.5 billion investments of “Sokhna Refining and Petrochemicals”.
  • Sokhna Refining and Petrochemical Company received the land contract with an area of 2.2 million square meters with investments of $ 4.5 billion to implement the project to establish an oil refinery with a production capacity of about 155 thousand barrels of oil per day.
  • A Sino-European consortium signed financing contracts worth $ 1.44 billion with Sokhna Refining and Petrochemical Company to finance 85% of the contracting work of the first phase of the project to establish an oil refinery in Ain Sokhna.
  • Citigroup Group, the financial advisor to Sokhna Refining and Petrochemical Company, covers 70% of the investment cost of the company’s plant in Suez, which is estimated at $ 3.5 billion.
  • The Sokhna project is located on an area of 1.8 million square meters in the industrial division of Suez Governorate and has a refining capacity of 232 thousand barrels per day, including diesel, and provides 1200 permanent jobs and about 5000 indirect during the project period.