RIYADH: Egypt’s petroleum sector is on track to prosper thanks to a new service that will make it easier for investors to spot opportunities in the country.
Launched by the Ministry of Petroleum and Mineral Resources, the Upstream Gateway digital platform aims to market petroleum areas globally, according to a statement.
It will also provide the geological data required by current and potential investors and promote bids in the North African country’s oil and gas exploration field.
The petroleum sector is implementing an integrated digital transformation program as part of the project to develop and modernize the industry, which began in 2016.
The program aims to improve performance and raise the efficiency of operations by establishing an integrated and unified digital system that links all activities of the sector and makes data available to support and speed decision-making while combating challenges.
The sector works to apply governance systems by taking advantage of modern technologies to link all oil companies and facilities by establishing an enterprise resource planning and management system.
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The Upstream Gateway digital platform will provide geological data required by current and potential investors and promote bids in the North African country’s oil and gas exploration field.
This platform collects and analyzes data and develops information systems in the various companies of the sector while taking into account the integration with existing industrial control apparatus in the various activities of the oil and gas industry as a whole.
In return, this helps in developing and improving procedures as well as trading data and information electronically to improve the efficiency of operations performance and support decision-making.
The ERP system has already been implemented in the ministry and all holding companies.
A fuel quantities follow-up system was also implemented through the creation of a database that includes all elements of the trading system in an electronic way.
The system follows up the quantities of fuel disbursed from warehouses to fuel stations for customers across all governorates.
There is also work in progress to launch a digital platform to serve the mining and mineral sector in an attempt to encourage and further propel investment in the field.
This will provide geological data and the maps required by investors to facilitate investment opportunities in the mineral wealth field, in addition to promoting bids.
