The Mineral Resources and Mining Industries Authority (MRMIA) has signed a contract with Spain’s Xcalibur, marking the initial steps for launching of operations for Egypt’s first nationwide airborne geophysical survey project in more than 40 years.
From inside the Sukari Gold Mine, one of the world’s leading gold mines, Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi announced the launch of an exceptional edition of the Egypt International Mining Forum (EIMF), under the patronage of President Abdel Fattah El-Sisi. The event is scheduled to take place on September 28–29 in the New Administrative Capital, with broad international participation expected from major mining companies and global investors.
Karim Badawi, Minister of Petroleum and Mineral Resources, witnessed the launch of drilling operations for a new well at the Mediterranean Nargis natural gas field, to fast-track production from the field, which US energy field major Chevron Corporation operates in partnership with Italy’s Eni, the UAE’s Mubadala Energy, and Egypt’s Tharwa Petroleum Company, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Sidi Kerir Petrochemicals Company (SIDPEC) posted a 68.65% year-on-year (YoY) decrease in net profit after tax for the first quarter (Q1) of 2026, dropping to EGP 184 million. This bottom-line decline occurred despite a 4.87% increase in revenues, which rose to EGP 3.788 billion, according to the company’s unaudited financial statement submitted to the Egyptian Exchange (EGX).Â
Agiba Petroleum Company, a joint venture between the Egyptian General Petroleum Corporation (EGPC) and the Italian energy major, Eni, has made a significant new hydrocarbon discovery in the Western Desert, described as the company’s largest in 15 years.
The Egyptian Engineering for the Petroleum and Process Industries (ENPPI) has been awarded the Badr–North East Birba Integrated Project in the Sultanate of Oman by Petroleum Development Oman (PDO), with a total contract value of $355 million, marking the company’s first project in the Omani market.
Alaa El-Din Abdel Fattah, Chairman of the Egyptian Petrochemicals Holding Company (ECHEM), underscored Egypt’s green hydrogen potential, highlighting its strong competitive advantages, including abundant renewable energy resources, strategic geographic location, and well-developed infrastructure. Abdel Fattah remarks came during his participation in a high-level panel discussion at the World Hydrogen Summit held in the Netherlands.
The session, focusing on enhancing the financial viability of green hydrogen projects, brought together key stakeholders, including government representatives, financial institutions, and international developers, to explore mechanisms for accelerating project implementation in Egypt and Morocco.
Egyptian Prime Minister Mostafa Madbouly witnessed the signing of a memorandum of understanding (MoU) between the Ministry of Petroleum and Mineral Resources (MoPMR), ExxonMobil, and partner QatarEnergy to maxmize the use of f Egypt’s natural gas infrastructure and study its linkage with Cypriot discoveries, as part of efforts to strengthen Egypt’s position as a regional hub for natural gas trade and circulation in the Mediterranean.
Egypt has reduced arrears to foreign partners to $440 million from $6.1 billion in June 2024, with the remaining dues set to be fully settled by the end of next month, said Karim Badawi, Minister of Petroleum and Mineral Resources, during a strategic seminar organized by the British Egyptian Business Association (BEBA).
Badawi stressed that settling foreign partners’ arrears was a government priority to restore investor confidence and address major sector challenges. In early May , Badawi stated that the arrears stood at $714 million.
Cyprus plans to deliver its first natural gas exports to Europe -via Egypt- in 2028, Nikos Christodoulides, the Cypriot President, told a Cabinet meeting, adding that this step carries strategic importance for strengthening Nicosia's geostrategic and energy position in the region.
The president said that the Cabinet has approved the development and production plan for the Cronos reservoir, along with all related agreements for the commercial exploitation and sale of Cypriot natural gas, marking a major step forward for the country’s energy sector
