Karim Badawi, Minister of Petroleum and Mineral Resources met with Mohamed Sofiane Berrah, Ambassador of Algeria to Egypt to discuss means for enhancing cooperation between both sides in the oil, gas, and mineral resources domains, in light of the Memorandum of Understanding (MoU) signed in October 2022.
Egypt and Russia’s state-owned Rosatom have signed a nuclear fuel purchase order and a comprehensive cooperation agreement for the El-Dabaa Nuclear Power Plant. The signings occurred during a high-profile ceremony for the installation of the Reactor Pressure Vessel (RPV) for Unit 1 of the plant.
President Abdel-Fattah El-Sisi and the Russian President Vladimir Putin attended the ceremony. The event coincided with Egypt’s Fifth Annual Nuclear Energy Day, commemorated yearly on November 19th to mark the 2015 intergovernmental agreement between Egypt and Russia to build and operate the nation's first nuclear power plant.
Minister of Petroleum and Mineral Resources Karim Badawi announced a series of major sector achievements while celebrating the Golden Jubilee of National Petroleum Day, according to a statement by the ministry .
The petroleum sector recorded 75 new oil and gas discoveries and brought 383 new wells into production, adding 1.1 billion cubic feet (bcf) of gas and nearly 200,000 barrels per day (bbl/d) of crude oil.
The Ordinary General Assembly of Maridive Oil Services has approved the formation of an AED 1 million wholly owned limited liability company in the UAE. The new company will provide a wide range of marine-related activities, including, maintenance, installations, construction, and salvage operations both underwater and above water. It will also provide industrial services for onshore and offshore facilities such as cleaning, maintenance, construction, transportation, supply, and provisioning of equipment and spare parts.
National Drilling Company (NDC), an Egyptian oil and natural gas services provider, recorded a net profit of $6.61 million for the nine months ending on September 30, 2025, marking an 11.85 % increase from the level recorded in the same period of 2024, according to figures released to the Egyptian Stock Exchange (EGX).
The company also saw its net profit for the first half of the year ending in June 2025 reaching $3.699 million, up from $3.185 million in the previous year.
Khalda Petroleum Company has made a new natural gas discovery in the Western Desert, after drilling and electrical logging confirmed gas presence with an estimated production rate of around 36 million cubic feet per day (mmcf/d). Testing and initial flow assessments are currently underway, with plans to bring the exploratory well, Gomana-1, into production on November 19.
Egypt signed an agreement to export 3,000 megawatt (MW) of electricity to Europe via the Greek network, a step that aligns with the country's plan to become a regional energy hub,noted a statement by the Ministry of Petroleum and Mineral Resources.
The trilateral agreement was signed by the Egyptian Electricity Transmission Company (EETC), Greece’s Independent Power Transmission Operator (IPTO), and Iliaka, a subsidiary of the Copelouzos Group. It mandates the start of final studies for the implementation of the Egypt–Greece grid connection project.
The interconnection is part of a broader strategy to link Egypt's national grid with the unified European electrical grid, solidifying Egypt's role as a regional energy hub and a vital bridge for exchanging power between Africa, Asia, and Europe, added the statement.
West El-Burullus (WEB) gas field entered production in the Mediterranean after the connection of the first wells to the national grid with production tests estimated at 45 million cubic feet per day (mmcf/d), according to Karim Badawi, Minister of Petroleum and Mineral Resources.
Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, met with the World Bank Group’s Regional Practice Director for Infrastructure, Almud Weitz, to advance cooperation and boost the investment appeal of the country's petroleum and mining sectors. Discussions centered on strategic funding for initiatives such as the incentive program for emerging mining companies to invest in Egypt, continued support for the natural gas connection project for households, and energy efficiency efforts.
Egypt has signed a cooperation agreement to carry out the final studies for the electricity interconnection project between Egypt and Europe through Italy, aiming to strengthen the country’s position as a regional energy hub. The Egypt-Europe interconnection is designed to export surplus renewable energy to the European continent, with a targeted capacity of up to 3,000 megawatts.
