Sources told Daily News Egypt that foreign partner Star Gas owned about 50% of the company, while the remaining share is broken down to 20% owned by South Valley Petroleum Holding Company, 15% by Enppi Petroleum, and 15% by Petrojet Petroleum. The sources added that after the implementation of the deal, the company’s ownership structure became 40% for Enppi, 40% for Petrojet, and 20% for South Valley Petroleum. The sources pointed out that the deal comes within the framework of a plan announced by the Ministry of Petroleum to buy the shares of foreign partners in oil companies. It is one of the Egyptian petroleum sector companies, which was established in accordance with the provisions of the Investment Guarantees and Incentives Law No. The company also supplied pipes for the Khaleda Petroleum Company.

Source: Daily News Egypt August 28, 2022 19:11 UTC