PMS Posts $261.5 Mn Revenues in 2025

• Monday, 23rd February 2026
• by Doaa Ashraf

Petroleum Marine Services (PMS) generated total revenues of $261.5 million in 2025. The revenues included $129 million from development projects and $132.6 million from maintenance, inspection, drilling, and other marine services, CEO Amr Badawy said during the general assembly meeting to approve the company’s 2025 financial results.

Badawy explained that PMS’s strategy is focused on diversifying and expanding its activities through cable-laying and deepwater installation works, in addition to port dredging. The company is also focused on broadening its client base, increasing business volumes, and strengthening partnerships with existing customers.

Egypt, Global Tech Providers Discuss Drilling Advances

• Monday, 23rd February 2026
• by Sarah Samir

Minister of Petroleum and Mineral Resources, Karim Badawi, held a meeting with representatives from international technology providers and service companies operating in Egypt, including SLB, Baker Hughes, Weatherford, National Energy Services Reunited Corporation (NESR), and Expro. The meeting discussed the executive steps for establishing an integrated mechanism to develop drilling technology and field Development.

MRMIA Updates Badawi on Nationwide Airborne Geophysical Survey Plan

• Monday, 23rd February 2026
• by Sarah Samir

Minister of Petroleum and Mineral Resources, Karim Badawi, held a meeting with the Board of Directors of the Mineral Resources and Mining Industries Authority (MRMIA), chaired by Yasser Ramadan, to discuss the launch of the nationwide airborne geophysical survey project.

The meeting also focused on aligning the Authority’s operational roadmaps with its new status as an economic entity. Officials briefed Badawi on the developments in negotiations for new gold and mineral investments,  and in the implementation of recently issued mining and exploitation licenses.

Sukari gold Produces 500,000 ounces in 2025

• Sunday, 22nd February 2026
• by Sarah Samir

The total production of the Sukari gold mine in 2025 came at 500,000 ounces, compared to 481,000 ounces in 2024, driven by higher ore throughput and improved equipment availability. The total cost of production is $783 per ounce, according to a press release by AngloGold Ashanti.

AngloGold Ashanti acquired the Sukari gold mine from Centamin on November 22, 2024.

In the fourth quarter (Q4) 2025, Sukari produced 119,000 ounces, down 5% from Q4 2024. This decline was partly caused by the processing of lower-grade materials.

Mubadala Acquires 15% Stake in Egypt’s Nargis Offshore Concession

• Sunday, 22nd February 2026
• by Sarah Samir

Mubadala Energy finalized the acquisition of a 15% stake in Egypt’s Nargis Offshore Concession from Eni. This move reinforces the company’s position in the East Mediterranean and its long-term commitment to Egypt.

MIDOR Reaches Peak Capacity of 170,000 bbl/d

• Friday, 20th February 2026
• by Samar Samir

The Middle East Oil Refinery (MIDOR) has officially reached its maximum production capacity following the successful completion of comprehensive maintenance works, marking a strategic shift in Egypt’s energy self-sufficiency goals. Amr Lotfy, Chairman of MIDOR, confirmed that the refinery is currently processing 170,000 barrels per day (bbl/d).

During the company’s general assembly to approve the 2025 financial results, chaired by the Minister of Petroleum and Mineral Resources Karim Badawi, Lotfy highlighted several key operational achievements, including the successful restart of production units at 100% capacity.

Badawi Chairs Second Preparatory Meeting for EGYPES 2026

• Wednesday, 18th February 2026
• by Sarah Samir

The Executive Committee of the Egypt Energy Show (EGYPES 2026) convened its second meeting, chaired by Karim Badawi, Minister of Petroleum and Mineral Resources, to oversee preparations for the event’s ninth edition. Held under the patronage of President Abdel Fattah El-Sisi, the conference and exhibition are scheduled to run from March 30 to April 1, 2026.

Petrosannan to Invest $40.32 Mn in FY 2026/27

• Wednesday, 18th February 2026
• by Doaa Ashraf

Petrosannan company, a joint venture (JV) between Ukraine’s Naftogaz and the Egyptian General Petroleum Corporation (EGPC), plans to invest around $40.32 million for the upcoming fiscal year, targeting daily production of 4,439 barrels of crude oil and 7.9 million cubic feet (mmcf) of gas, Chairman Ayman Morshedy told the General Assembly which convened to approve plans and budget for fiscal year (FY) 2026/2027.

Badawi Inspects Shell’s West Mina Gas Field, First Output Expected By End of 2026

• Wednesday, 18th February 2026
• by Doaa Ashraf

Karim Badawi, Minister of Petroleum and Mineral Resources, inspected the drilling operations of the first development and production well at the West Mena gas field in the Northeast El Amreya area in the Mediterranean Sea.

The field is scheduled to begin initial gas production by the end of this year, adding an estimated 160 million cubic feet per day (mmcf/d) of gas  and 1,900 barrels of condensates, said the petroleum ministry on Thursday.

Modern Gas to Develop Banan Riyadh Gas Network

• Tuesday, 17th February 2026
• by Doaa Ashraf

Modern Gas has signed an agreement with Talaat Moustafa Group to implement and operate centralized gas networks for the Banan Riyadh residential city in Saudi Arabia.
The first phase of the project is valued at SAR 24 million and will span 4 million square meters out of the city’s total 10 million square meters.
The project will be executed in partnership with Egyptian FAJR Natural Gas Company and Alexandria Petroleum Maintenance Company (Petromaint).