Egypt and the UAE have moved to implement plans for a petroleum logistics zone at El Hamra Petroleum Port in New Alamein, following the establishment of Fujairah Alamein Oil and Gas Company. Karim Badawi, Minister of Petroleum and Mineral Resources, welcomed the completion of the company’s establishment and its inaugural general assembly meeting at the  Port, saying the step marks a move from agreements and planning to implementation.

This came a few days after the Cabinet approved the establishment of the special free zone according to Decree No. 65 of 2026.

The company will develop, operate and manage a logistics zone for storing and handling crude oil and petroleum products at the Mediterranean port. The project aims to support joint investment between Egypt and the UAE and to make greater use of El Hamra’s infrastructure and strategic location. According to the Decree, the company must export at least 100% of its annual production, and its products must contain at least 50% local content.

Badawi said the project will create new investment prospects in crude oil and petroleum product storage, handling and trading, while strengthening Egypt’s role as a regional hub for petroleum trade.

Moreover, he directed officials to complete the remaining procedures and set a clear implementation timeline. The project will draw on international operating and management practices used at oil trading and storage centers.

The plans build on a cooperation agreement between Egypt’s Ministry of Petroleum and Mineral Resources (MoMPR) and the Emirate of Fujairah. In August 2025, Badawi inspected development works at El Hamra and called for faster implementation of the planned logistics hub, modeled in part on Fujairah Port.