The Ministry of Petroleum and Mineral Resources (MoPMR) plans to offer 62 investment opportunities through the Egypt Upstream Gateway (EUG). Karim Badawi, Minister of Petroleum and Mineral Resources, announced the plan during a meeting with the Coordination Committee of Parties' Youth Leaders and Politicians (CPYP), where he reviewed the petroleum sector's ongoing investment allocations, according to a statement by the MoPMR.
The Egypt Upstream Gateway (EUG) has opened the NW Al Amal Block in the Gulf of Suez for bidding, with submissions accepted until September 7, according to a statement posted on its official LinkedIn page.
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Sherif Bayoumy, Managing Director of SLB (formerly Schlumberger) for Egypt and the Eastern Mediterranean, and Basil Abdel Wahab, SLB Vice President of Digital Solutions, to discuss deploying advanced artificial intelligence (AI) applications across exploration, production, and operations.
Egypt stepped up efforts to attract foreign investment in its energy and mining sectors, as Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty and Minister of Petroleum and Mineral Resources Karim Badawi discussed opportunities and recent developments in both sectors.
The Gulf of Suez Petroleum Company (GUPCO) announced the commissioning of the second phase of the North Safa field development project in the Gulf of Suez, with investments from UAE’s Dragon Oil, in partnership with the Egyptian General Petroleum Corporation (EGPC), according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Current production from the North Safa field amounts to about 15,000 barrels per day (bbl/d) through five producing wells. The company is preparing to add a new well to production in the coming days, as the first outcome of the project’s second phase, with an output of 2,500 bbl/d.
In a key step toward launching Egypt's new diesel production complex, Assiut National Oil Processing Company (ANOPC) has successfully powered up its first electrical station, allowing the facility to begin its final testing and commissioning phase before going fully operational, according to a statement by the Egyptian General Petroleum Corporation (EGPC)
Petroleum Marine Services (PMS) completed offshore works for Phase Two of the North Safa Offshore Field Development Project in the Gulf of Suez. The company installed the offshore platform’s production deck, with production equipment and facilities.
Genel Energy, a British oil and gas exploration and production company, is expanding into Egypt through a $360 million all-cash acquisition of Capricorn Energy, a strategic move aimed at diversifying beyond its disruption-prone oil assets in Iraqi Kurdistan, as reported by Reuters.
Capricorn Energy is an oil and gas explorer, developer, and producer with operations in several locations across the world, including Egypt’s Western Desert.
Minister of Petroleum and Mineral Resources, Karim Badawi, met Sultan Al Jaber, UAE's Minister of Industry and Advanced Technology and the CEO of Abu Dhabi National Oil Company (ADNOC) Group, to discuss increasing ADNOC investments in gas exploration and production activities in Egypt, while also expanding business opportunities for Egyptian engineering and construction companies, particularly ENPPI and Petrojet, in the UAE market.
The two sides reviewed the activities and plans of Arcius Energy, an ADNOC-BP joint venture, in Egypt. Arcius is targeting higher natural gas production through exploration programs, field development projects, and existing producing assets.
Karim Badawi, Minister of Petroleum and Mineral Resources, inspected a Petroleum Projects and Technical Consultations Company (PETROJET) infrastructure project site during an official visit to the United Arab Emirates (UAE), according to a ministry statement. The visit highlights the petroleum sector's strategy to expand the international footprint of Egyptian contractors across key regional energy markets.
Badawi reviewed project progress and met with PETROJET’s Egyptian workforce. He was briefed on the company’s engineering, procurement, and construction (EPC) work on the WAVE C3A project.
