Egypt is actively seeking investors to tap into the significant potential of its undeveloped hydrocarbon discoveries in the Mediterranean Sea. Through the Egypt Upstream Gateway (EUG), the government has highlighted a cluster of promising assets, identified as Cluster 1 (Rahamat-Aten-Meret), presenting a compelling opportunity for those seeking high-impact investments in the energy sector.
Minister of Petroleum and Mineral Resources Karim Badawi presided over the general assembly meeting of the Egyptian Fajr Natural Gas Company to review its fiscal year results for 2024.
ExxonMobil Egypt has recently celebrated milestones achieved in 2024 during its annual lubricants and fuel conference, underscoring its commitment to sustainable growth and high-quality products.
The Chairman of the Egyptian Natural Gas Company (GASCO) Yasser Salah El Din stated that the company is working on several strategic pillars of the Ministry of Petroleum and Mineral Resources (MoPMR), especially in meeting the gas needs of the local market and the country's economic sectors.Â
Khalda Petroleum Company Chairman Saeed Abdel Moneim reviewed the most important performance indicators and targets for the next fiscal year (FY), indicating that it is planned to invest approximately $1 billion during FY 2024/25.
Minister of Petroleum and Mineral Resources Karim Badawi attended the General Assembly meeting of the Middle East Oil Tankage & Pipelines (MIDTAP) company to discuss its 2024 performance.Â
Minister of Petroleum and Mineral Resources Karim Badawi confirmed that integrating new gas wells within the tenth phase of the West Delta Deep Marine (WDDM) development area into the production map and their connection to the national natural gas network represents a significant milestone for the sector.Â
Prime Minister Mostafa Madbouly held a meeting to discuss various industry-related matters of significant importance with the Minister of Petroleum and Mineral Resources Karim Badawi, Minister of Finance Ahmed Kouchouk, and other Egyptian officials.Â
As of the longstop date, certain regulatory approvals in Italy and Egypt were not obtained by Carlyle (or waived), in accordance with the terms of the binding sale and purchase agreement (SPA) signed on 19 June 2024. Additionally, the company has not been able to reach agreement with Carlyle to extend the longstop date beyond 20 March 2025.
During his visit to Germany, Minister of Petroleum and Mineral Resources Karim Badawi participated in the 11th edition of the Berlin Energy Transition Dialogue on the 18th and 19th of March.
