News / Egypt

Egypt, Jordan Sign 2026 Electricity Exchange Contract

Egypt and Jordan signed a contract to exchange electricity for 2026 between the Egyptian Electricity Transmission Company (EETC) and the National Electric Power Company (NEPCO), according to a statement by Egypt's Ministry of Electricity and Renewable Energy.

Egypt exported 306.08 million kilowatt-hours (kWh) of electricity to Jordan during 2025, generating total revenues of approximately $28.26 million, Esmat said. He emphasized that electrical interconnection projects play a vital role in enhancing energy security and stressed that the Egypt-Jordan interconnection serves as a model for regional cooperation.

Britain Exempts Zohr Field From Russia Santions

Britain added Egypt's Zohr gas field to a list of projects exempt from its Russia sanctions on December 18, according to Reuters. The exemption applies to the Mediterranean field where Russian oil major Rosneft holds a 30% stake, bp owns 10%, and Eni operates with a 50% holding.

Cabinet Greenlights $208Mn Exploration Agreement in the Western Desert

The Cabinet approved a petroleum concession agreement for the exploration, development, and exploitation in the Integrated Badr El-Din area in the Western Desert. According to a statement by the Cabinet, the agreement includes a minimum investment of approximately $208 million and the drilling of around 44 wells. It targets monthly production of approximately 105,000 barrels of oil and 1.2 billion cubic feet of natural gas.

Egypt-Saudi Electricity Link Up Begins Trial Operations in January

Egypt and Saudi Arabia are preparing to launch the first phase of their long-planned electricity interconnection project, with trial operations on the initial line set to begin in the first week of next month, Egypt's Minister of Electricity and Renewable Energy, Mahmoud Essmat, told Asharq Business on December 15 during the ninth edition of the Al-Ahram Energy Conference. The first phase will have a transmission capacity of 1,500 megawatts (MW).

Egypt Kicks Off $220 Mn Solar Production Complex in SCZONE

In the presence of senior government officials and international investors, the foundation stone of  ATUM Solar, an integrated manufacturing complex for solar cells, panels, and energy storage systems, was laid on December 17 in the Suez Canal Economic Zone (SCZONE).

The project, which has a total investment of $220 million, brings together partners from four countries: China's JA Solar as technical investor, Egypt's AH for Industrial Management, the UAE's Global South Utilities (GSU), and Bahrain's Infinity Capital.

Badawi: IOCs Commit to Invest $16.7Bn in Egypt through 2030

Egypt has succeeded in securing $16.7 billion worth of investment commitments from foreign partners over the next five years, signalling a strong recovery in its upstream industry and renewed confidence from  International Oil Companies (IOCs), according to Karim Badawi, Minister of Petroleum and Mineral Resources. This came during the ninth edition of Al-Ahram's Energy Conference, where he gave the breakdown of the figure, noting that Italy's energy giant Eni will invest $8 bn, the UK-based bp will inject $5 bn, and the remaining $3.7 billion will be provided by ARCIUS Energy (a joint venture between bp and ADNOC's subsidiary XRG). The minister boasted the fact that the petroleum sector has shifted from a period of decline to a phase of stability, with natural gas production increasing gradually for the first time in four years, and the crude oil output is projected to achieve self-sufficiency within five years. Badawi also noted the ministry's plans to to reduce reliance on fossil fuels and boost investment opportunities in green energy projects, including Sustainable Aviation Fuel (SAF), green ammonia, and bioethanol. He also pointed to the implementation of 117 renewable energy projects at petroleum work sites and measures to improve energy efficiency by 8%, contributing to a reduction of approximately 1.4 million tons of carbon emissions.

Scatec to build a Major Hybrid Solar plant with Battery Storage in Egypt

Norwegian renewables developer Scatec has received the cabinet's approval to proceed with a major hybrid solar and battery storage project in Egypt, which can produce 100 MW of power around the clock.

The project combines a 1.7 gigawatt (GW) solar power plant with a battery system that can store 1.5 gigawatt-hours (GWh) of energy.

Maridive Secures Contract in UAE, Sees its Consolidated profits doubling in 9M 2025

Maridive & Oil Services has signed a three-year contract to provide exploration, maintenance, and production support services in the UAE. The contract, finalized by Maridive Offshore Projects, a subsidiary of the company,  will come into force in the first quarter of 2026 and carries an annual value of $8.95 million, according to a disclosure to the Egyptian Stock Exchange (EGX).

Earlier this month, Maridive & Oil Services secured a 15-year contract in Qatar to provide maintenance and production support services, with operations set to begin in Q1 2028 and an annual contract value of $10.15 million.

Qatar Invests $200 Million in Sustainable Aviation Fuel Plant at SCZONE

Qatar is investing $200 million to build a Sustainable Aviation Fuel (SAF) production facility in the Ain Sokhna Integrated Zone, marking the first Qatari industrial investment in the Suez Canal Economic Zone (SCZone). The project, led by Al Mana Holding Company, will use cooking oils to produce 200,000 tons annually of hydrotreated vegetable oil (HVO), biopropane, and bionaphtha, all linked to SAF.

Prime Minister Mostafa Madbouly witnessed the signing of the landmark contract at the government headquarters in the New  Capital, according to a cabinet statement. The agreement was signed between the SCZone Authority and Al Mana Holding in the presence of Walid Gamal El-Din, Chairman of SCZone; Mustafa Sheikhoun, Vice Chairman of the SCZONE, together with Abdulaziz Al Mana, CEO of Al Mana Holding Group and Chairman of the Green Sky Capital, a SAF platform focused on developing renewable fuel projects across the Middle East and North Africa (MENA), with the Egyptian facility serving as its inaugural project.​

Egypt Wins Two OAPEC Research Awards

Egypt won two OAPEC Scientific Research Awards for 2024 at the Organization of Arab Petroleum Exporting Countries’ ministerial meeting in Kuwait, recognizing Egyptian studies on converting greenhouse gases into sustainable aviation fuel and on integrating renewable energy technologies. During the meeting, Petroleum Minister Karim Badawi also outlined a set of initiatives to strengthen Arab energy security, including the preparation of an Arab Energy Interconnection Map 2030, mechanisms for emergency coordination of crude oil and LNG supplies, expanded cross-border storage, and the launch of a digital platform to promote investment opportunities across the energy value chain.

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