DNV and Egyptian General Petroleum Corporation sign MoU to support Sustainability Program

DNV, an independent energy expert and assurance provider, has signed a Memorandum of Understanding (MoU) with the Egyptian General Petroleum Corporation (EGPC) to support their efforts in setting science-based targets for net zero goals. The targets will be set within the framework of Egypt Vision 2030, a national plan to reach the country's Sustainable Development Goals (SDGs) in line with the Paris Climate Agreement's 1.5°C pathway.

Under the MoU, DNV will provide technical advisory support to help EGPC establish its strategy and execute its plan to align with Egypt Vision 2030, covering all dimensions of the country's SDGs. The two parties will identify the economic, social, and environmental risks, opportunities, and impacts of EGPC's activities for all relevant stakeholders. Additionally, DNV will support EGPC in delivering studies related to net-zero emissions and carbon capture, utilization, and storage projects, as well as provide training programs for EGPC sustainability committee, management, and affiliated companies.

Santiago Blanco, Executive Vice-president and Regional Director for Southern Europe, Middle East, and Latin America, Energy Systems at DNV, explained that their extensive experience and expertise in the energy transition will help EGPC achieve their goals, which will in turn feed into Egypt's decarbonisation strategy, essential for achieving the required emissions reduction.

The MoU signing ceremony was witnessed by HE Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, and HE Hilde Klemetsdal, Norway's Ambassador to Egypt and Libya.