AVEVA, a global leader in industrial software, driving digital transformation and sustainability, has appointed Khaled Salah as Vice President (VP) of Africa. In his new role, Salah will lead a team of nearly 30 people to execute the company’s growth strategy across the continent, reporting directly to Jesus Hernandez, Senior Vice President (SVP) for Europe, the Middle East and Africa (EMEA).
The Egyptian General Petroleum Corporation (EGPC) has launched a centralized digital platform to monitor, analyze, and evaluate the environmental performance of its affiliated companies, aiming to enhance transparency and operational efficiency across the sector. The platform aims to standardize mechanisms of collecting environmental data and digitally analyze them to improve operational efficiency, support informed decision-making, enhance data quality and accuracy, and increase transparency within the sector.
China’s Xingfa Chemicals Group (XINGFA) has unveiled plans to invest up to $2 billion in a large-scale, three-phase industrial project in Egypt’s Golden Triangle region, focusing on integrated phosphate extraction and high-value chemical manufacturing. During a meeting on January 22, Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), discussed the proposal with a delegation led by Xingfa President Cheng Yali.
The Egyptian Natural Gas Holding Company (EGAS) is accelerating offshore gas development through technical studies on undeveloped Mediterranean discoveries while advancing exploration programs through meetings with Arcius Energy, ExxonMobil and QatarEnergy
The Egyptian General Petroleum Corporation (EGPC) has approved amendments to the current fiscal year's budget as well as the plan for the 2026/27 budget for Alamein Petroleum Company. EGPC's CEO, Salah Abdel Kerim, attributed the modifications to the fact that the company’s concession areas require continuous innovation and integrated technical solutions, given their complex geological nature.
Abdel Kerim highlighted that investment in exploration continues to yield immediate results, citing the Z3 well as a recent success. The well was recently linked to production facilities and is currently contributing approximately 650 barrels per day (bbl/d) to the company’s total output.
Egypt has cleared approximately $5 billion of the arrears due to its foreign partners in the oil sector, significantly reducing the sector's debt, Prime Minister Mustafa Madbouly said during the Cabinet's weekly meeting.
Egypt's total arrears for International Oil Companies have dropped from a mid-2024 peak of $6.1 billion and are expected to reach$1.2 billion by the end of June 2026, which is the normal rate, according to Madbouly.
Hassan El-Khatib, Minister of Investment and Foreign Trade, met with the CEOs of Saudi Arabia’s ACWA Power and Greece’s Public Power Corporation (PPC) on the sidelines of the World Economic Forum (WEF) in Davos to accelerate Egypt’s transition into a regional green energy and water desalination hub. The Saudi group currently operates two solar plants in Egypt with a combined capacity of 350 megawatts (MW), which the Minister noted are performing beyond expectations. Parallel to these operations, the 1.1-gigawatt (GW) Shams solar project.
Gulf of Suez Petroleum Company (GUPCO) has brought on stream the development well, Al Wasl-4 in North Safa field. The well is producing around 2,250 (bb/d) of crude oil and approximately 1.3 million cubic feet per day (mmcf/d) of natural gas, contributing to rise in crude output of GUPCO reaching 65,000 bbl/d. The well supports the company’s strategy to maximize recovery from mature assets through integrated appraisal, development drilling, and optimization of remaining reserves.
The Minister of Investment and Foreign Trade Hassan El-Khatib highlighted that Egypt possesses enormous potential in the field of renewable energy, especially solar energy, where approximately 700 to 900 gigawatts (GW) can be generated from the Western Desert alone. This came during his participation in a high-level panel discussion as part of the World Economic Forum (WEF) in Davos, Switzerland. Additionally, in an interview with Bloomberg, on the sidelines of the forum, El-Khatib revealed that recent energy pricing restructures have successfully addressed long-standing fiscal imbalances.
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Frank Wetzel, State Secretary at the Federal Ministry for Economic Affairs and Energy of Germany to discuss means to strengthen bilateral cooperation in the energy sector. Both sides reaffirmed the depth of Egyptian-German relations at various levels and stressed the importance of further developing and strengthening ties to expand cooperation in gas, renewable and green energy, technology transfer, and human capacity building.
