The General Assembly of the Misr Maintenance Company was held on Sunday, March 31, where the results of the company’s work for the year 2023 were approved, in the presence of Engineer Tarek El-Molla, Minister of Petroleum and Mineral Resources, via video conference.
During the General Assembly, Engineer Tarek El Molla, Minister of Petroleum and Mineral Resources, praised the distinguished results achieved in terms of the business volume and expansion vision, especially abroad, adding that he is confident of the Company’s success due to the presence of a clear vision and a successful business plan based on sound strategic foundations.
Eng. Khaled Ibrahim, Chairman of the Board of Directors and Managing Director, explained that Misr Maintenance Company has been able to sustain its business and fulfill its obligations to its customers regardless of the regional and global challenges of wars and economic crises, as well as, the local fluctuations in exchange rates and instability of the petroleum products prices, stating that the company managed to overcome these challenges and maintain its leadership in the field, which contributed to raising the level of its classification among the largest international contractors (ENR) for the third year in a row, to occupy the 212th place in the list of the largest 250 international contractors for the year 2023, and for the first time, the company occupies fifth place internationally in the classification in the field of maintenance services with the same entity, thus making it the only Egyptian company listed in that category. The company was also able to achieve twenty-fourth place globally and third locally in the field of pipeline services with the same donor entity.
Eng. Ibrahim said Misr Maintenance Company achieved an increase in the volume of revenues and contracts inside and outside Egypt in 2023, as it achieved revenues amounting to (8.8) billion pounds, at an increase of (26%) over the year 2022, and that it provided a volume of contracts amounting to 11 billion pounds, at a rate of 15% increase over the year, 2022.
Eng. Ibrahim reviewed the most prominent projects during the year 2023, including: – Comprehensive maintenance contracts as a field that characterizes the company which extended for more than twenty years for the sector’s sister companies, such as Midor Company, Damietta Natural Gas Liquefaction Company, Pharaonic Company, Petrobel, Egyptian Oil Refining Company, Anerbek, Amriya Oil Refining Company, and Assiut Oil Refining Company, in addition to the comprehensive maintenance contract for Cairo International Airport, in addition to such quality. Contracts outside Egypt, especially for the company’s branch in Iraq, which extended to include contracts for comprehensive maintenance services extending to all production sites in the Zubair fields for the benefit of the Italian company Eni, maintenance of oil warehouses and comprehensive maintenance work in the West Qurna fields in Iraq for the benefit of ExxonMobil, in addition to turbine and overhaul maintenance work, as the company was able Maintaining its presence locally and internationally in this field by carrying out maintenance and overhaul work for turbines and compressors of many sister sector companies, in addition to turbine maintenance services outside Egypt in the State of Jordan for the benefit of the Jordanian Potash Company, as well as maintenance work for steam boilers for the benefit of the Jordanian Petroleum Refinery Company. Finally, the State of Libya joined the intervention. Within the countries in which Misr Maintenance Company is present, the company won some maintenance contracts in the field of cathodic protection for the Zawiya and Ras Lanuf companies, in addition to providing technical support services for the Zalaf Oil and Gas Company.
This is in addition to the company’s distinction in the field of generating and selling electricity, as it carried out the work of providing the necessary electricity for the wood technology factory project for the benefit of Wotech Company, with a total of 26 megawatts, in addition to providing Khalda Company with a continuous supply of electrical energy through the use of torch gas, and also the work of generating and selling electricity for the benefit of the company. Suez Methanol Derivatives (SMD) Finally, in this field, the company was able to win a contract for two power stations with the BOO system for Norbitco, and of course these projects fall within the framework of contributing to preserving the environment and reducing carbon emissions.
In the field of development and specialized projects, especially the field of integrated project work, the company is implementing a project to design, supply and implement a methanol derivatives complex for the benefit of SMD Company, as well as a water treatment plant in the Maliha fields for the benefit of Agiba Company. This is in addition to fire alarm and firefighting work inside and outside the petroleum sector such as Misr Petroleum, Petroleum and Gas. Suez Petroleum Manufacturing and Cairo International Airport, in addition to the rehabilitation and maintenance of warehouses for oil companies.
Eng. Ibrahim also pointed out the strategic role of Misr Maintenance Company in the field of communications and control projects in the country, as Misr Maintenance Company has implemented many strategic projects inside and outside the petroleum sector, as it supplied and installed audio, visual and control systems for the strategic command center room for the petroleum sector, and provided communications services for the petroleum sector. Through the Egyptian satellite Taiba 1 – as well as the continuation of management, operation and maintenance services for the complex of ministries in the government district, the Council of Ministers and the House of Representatives, as well as maintenance contracts for administrative buildings for sister sector companies, banks, hospitals of the Ministry of Health and Population and a number of universities such as Galala University and the Japanese University.
Eng. Ibrahim stressed the pledge of Misr Maintenance Company and all its employees to exert every effort towards following and implementing the strategy of the Ministry of Petroleum and Mineral Resources to achieve future goals that support the principle of business sustainability while maintaining the highest standards of quality, safety, occupational health and environmental protection, and ensuring the digital transformation of all operations. The company, under a clear framework of transparency and continuous oversight, applies and takes into account all foundations and principles of governance, while working to develop our human and material resources and develop work according to the principles of the program we care to ensure that all elements of the system are taken into account, including workers, shareholders, partners and suppliers, in a way that enables us to implement targeted development plans and ensure the success of continuity, and business sustainability.
