Petroleum Minister Sherif Ismail attended the signing of an agreement between the Middle East Oil Refinery (MIDOR) and UOP, a subsidiary of Honeywell, for MIDOR's lab expansions.
MIDOR's refinery lab upgrade will cost $1.4 billion to increase its operation capacity from 100,000 barrels to 160,000 daily, the minister said on Thursday.
The upgrade is meant to raise the local production of oil products to fulfill the needs of the local market, Ismail said.
The agreement was signed by MIDOR Chairman and CEO Mohamed Abdel Aziz and UOP General Manager Nigel Orchard.
By carrying out the expansions, the lab's annual productive energy capacity will reach 245,000 tons of butane gas, 1.3 million tons of high-octane gasoline, 3.2 million tons of diesel fuel, 570,000 tons of coal and 135,000 tons of sulfur, the MIDOR chairman said.