Cairo – Mubasher: The Petroleum Projects & Technical Consultations Co’s (Petrojet) revenues hiked 91% during the full-year 2017, recording EGP 23 billion.
The oilfield service company has executed 80 projects last year, while currently implementing other projects inside and outside Egypt, according to the petroleum ministry's statement, citing company chairman Waleed Lotfy said.
The Egypt-based firm is currently finalising the following phases of a number of projects, including gas fields’ production in the Mediterranean Sea, the channel tunnels, and the phosphate fertilisers complex in Ain Sokhna, Lotfy highlighted.
The state-owned contractor is also establishing overseas projects in a number of Arab countries, he indicated.
This came on the sidelines of the company’s general meeting, headed by petroleum minister Tarek El-Molla, to approve 2017 financial results.
Petrojet had achieved a 65% year-on-year growth in revenues for 2016, registering EGP 11.9 billion.
