Result of Meeting

Resolution

BOD had unanimously ratified minutes of the previous Board meeting (Session 14) that was held on November 1, 2018

Resolution 1

BOD had been informed of the chairman's business travel to Netherlands to attend the meeting for the study and evaluation of the Emllated bed Hydrocracker to fleur company in Amsterdam and Rotterdam, Netherlands to visit Air Product and Chevron to discuss the licensee to contribute the project financing during the period from 4 / 11 / 2018 to 9 / 11 / 2018.

Resolution 2

The Board of Directors had been informed of the appeal award in favor of the company regarding the fine on interest dept (2005,2006 ) , (2006,2007) of a total amount of 10949152 EGP and the stated amount had been paid back to AMOC

Resolution 3

BOD Approved the donation of the Higher Medical Council for the petroleum sector and some hospitals in Alexandria with a total amount of 380600 EGP.

Resolution 4

BOD had approved the recommendation issued by the decision making committee ( operation 517 / 2018 / 2019 / specialized ) to maintenance of GIS cells at the main power station (AMOC / ANRPC) of 66 K.V (in partnership with ANRPC) to ABB with a total amount of 426000 Euro which equals 8694660 EGP excluding the VAT, knowing that the equivalent value of the operation. is 426000.

Resolution 5

BOD had approved the recommendation issued by the decision making committee( 514/2018 - 2019 )  to Raise the level of the service road to the entrances and exits of the company parallel to the eastern wall from the outside to PetroJet with a total amount value of 4339000 EGP including the VAT, knowing that the equivalent value of the operation is 4181000 EGP.

Resolution 6

BOD had approved the Near-Zero liquid Discharge for wastewater treatment with estimated value (acquired by EPAPIII) 13.9 million euros with a loan from Al AHLY bank with a value of 11.1 million euros which represent 80% of the total value of the project, and AMOC should pay the remaining value which represent 2.8 Million euros ( 20%).

In case the project had completed AMOC should get back a grant of 10% to 20% of the total value of the loan.

Resolution 7

BOD has agreed to complete the negotiation procedures for the acquisition of AMOC on the share of the German company Sasol in Alexandria for wax products company.

1- The chairman of the board of directors has been authorized to complete the acquisition of AMOC on a controlling share of the German company Sasol in Alexandria for wax products at nominal value.

Resolution 8

BOD approved on exporting 4 shipments of diesel.

1- Approve the recommendation of the petroleum products committee No.( 8 / 2018 / M ) for the export of 4 mixed-weight mixtures of 30 thousand tons per shipment ( - + 10 % ) during the period November and December 2018 to LITASCO in the accordance with the justifications.

Resolution 9

Bod approved to import cutter stock shipment.

1- Approval of the recommendation of the petroleum products processing committee no. ( 9 / 2018 / M ) regarding importing of the cutter stock shipments ( 15 - 25K ton ) during the period ( November / December 2018 ) from AOT Trading , the estimated value of the shipment is about 14.5 million dollars.

Resolution 10

On the approval of the updating and development of data center and to improve the operational and security efficiency of the information network system.

1- Approval of the updating and development of data center and raising the operational and security efficiency of the network work system, which is the summary of the costs of the costs of the mentioned projects at a total cost of the first phase is $ 631765 as follows:

2- Specialized Employment qualified in the field of Security Engineer / Network Engineer / Software Engineer).