Egypt Seeks Via ‘Nafeza’ to Boost Ports’ Performance

Egypt's Finance Minister Mohamed Maait (Asharq Al-Awsat)
Egypt's Finance Minister Mohamed Maait (Asharq Al-Awsat)
TT
20

Egypt Seeks Via ‘Nafeza’ to Boost Ports’ Performance

Egypt's Finance Minister Mohamed Maait (Asharq Al-Awsat)
Egypt's Finance Minister Mohamed Maait (Asharq Al-Awsat)

Egypt’s Finance Minister Mohamed Maait said his country is advancing in the optimal use of modern technology to ensure the speedy and accurate implementation of projects.

This comes in line with efforts to lay the foundations for a more advanced digital work environment and governance based on linking all ports to the National Single Window for Foreign Trade, Nafeza, and the newly developed logistic centers.

Cairo has also been seeking to implement the Advance Cargo Information (ACI) system to localize distinguished global expertise and reduce the customs release time, cost of the import and export process, and real-time monitoring of Egyptian imports and exports.

Maait’s remarks were made in a press statement issued by his ministry on Saturday, in which he reviewed a report on the customs’ performance during Eid al-Adha holiday.

He said these efforts will contribute to maintaining the prices of goods and services as much as possible and protecting local markets from inferior and non-conforming goods, noting that the main target is for ports to be used as transit gates only not as warehouses.

Maait underlined the importance of taking all measures for local and foreign investments to help maximize local production, enhance the competitiveness of Egyptian products in global markets, and facilitate trade movement.

He further underscored the need to improve Egypt’s ranking in three major international indicators, namely “global competitiveness, doing business, and the macroeconomic environment.”



Saudi Energy Minister Announces New 8 Arabian Oil, 6 Natural Gas Discoveries

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. Reuters file photo
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. Reuters file photo
TT
20

Saudi Energy Minister Announces New 8 Arabian Oil, 6 Natural Gas Discoveries

Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. Reuters file photo
Saudi Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz. Reuters file photo

Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz announced that the Saudi Arabian Oil Company -Saudi Aramco- has discovered fourteen Arabian oil and natural gas fields and reservoirs in Eastern Region and the Empty Quarter. The discoveries include six fields and two reservoirs of Arabian oil, as well as two fields and four reservoirs of natural gas.
The minister extended his congratulations to Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness the Crown Prince and Prime Minister on these discoveries, expressing his wishes for continued growth, development, and prosperity for the Kingdom of Saudi Arabia and its people, SPA reported.
Prince Abdulaziz stated that "Jabu" oil field has been discovered in Eastern Region, following the flow of Arabian Extra Light Oil in "Jabu-1" well at a rate of 800 barrels per day (bpd). "Sayahid "oil field was also discovered, where Arabian Extra Light Oil flowed in "Sayahid-2" well at a rate of 630 bpd. Additionally, "Ayfan" oil field was discovered, where Arabian Extra Light Oil in "Ayfan-2" well flowed at a rate of 2,840 bpd, with 0.44 million standard cubic feet (MMscf) of associated gas per day. Furthermore, "Jubaila" oil reservoir has been discovered in "Berri" field after Arabian Light Oil flowed in " Berri-907" well at a rate of 520 bpd, associated with 0.2 MMscf of gas per day. In addition, "Unayzah-A" oil reservoir was discovered in "Mazalij" field after the flow of Arabian Super Light Oil in "Mazalij-64" well at a rate of 1,011 bpd, along with 0.92 MMscf of associated gas per day.
In the Empty Quarter, "Nuwayr" oil field has been discovered after the flow of Arabian Medium Oil in "Nuwayr-1" well at a rate of 1,800 bpd, with 0.55 MMscf of associated gas per day. Additionally, the oil field "Damda" was discovered, where Arabian Medium Oil flowed in "Damda-1" well at a rate of 200 bpd from "Mishrif-C" reservoir, while Arabian Extra Light Oil flowed from "Mishrif-D" reservoir in the same well at a rate of 115 bpd. Also, the discovery of "Qurqas" oil field was confirmed after Arabian Medium Oil flowed in "Qurqas-1" well at a rate of 210 bpd.
For natural gas, the minister of energy announced the discovery of "Ghizlan" gas field in Eastern Region, where gas flowed in " Ghizlan-1" well at a rate of 32 MMscf per day from "Unayzah B/C" reservoir, with 2,525 barrels of condensate. Also, "Araam" gas field was discovered after gas flowed in "Araam-1" well from "Unayzah B/C" reservoir at a rate of 24 MMscf per day with 3,000 barrels of condensate.
"Qusaiba" unconventional gas reservoir was also discovered in "Mihwaz" field in Eastern Region, where gas flowed in "Mihwaz-193101" well at a rate of 3.5 MMscf per day, with 485 barrels of condensates.
In the Empty Quarter, "Arab-C" gas reservoir was discovered in "Marzouq" field, where gas flowed in "Marzouq-8" well at a rate of 9.5 MMscf per day. The same well also resulted in the discovery of "Arab-D" gas reservoir, after the flow of gas at a rate of 10 MMscf per day. Additionally, the "Upper Jubaila" gas reservoir was discovered from the same well, where gas flowed at a rate of 1.5 MMscf per day.
Finally, Prince Abdulaziz stressed on the importance of the added value that these discoveries represent, solidifying the Kingdom’s leading position in the global energy sector, and reinforcing its rich hydrocarbon potential. Citing that such discoveries will lead to opening new horizons for the Kingdom’s economic development and strengthening its ability to meet both domestic and global energy demand efficiently and sustainably for decades to come. These discoveries will also support sustained economic growth and prosperity, in line with Vision 2030 and Saudi Arabia’s ambitious goals to fully harness its natural resources and enhance global energy security.