President Abdel Fattah Al-Sisi held a meeting with Prime Minister Mostafa Madbouly, and Karim Badawi, Minister of Petroleum and Mineral Resources. The meeting addressed the state's efforts to secure citizens' needs for petroleum products and provide natural gas to various state sectors, especially the electricity sector. Discussions also covered updates on exploration activities and added petroleum reserves.
Minister of Petroleum and Mineral Resources Karim Badawi met with William Lin, Executive Vice President of bp Global for Gas and Low-Carbon Energy Affairs, along with other bp officials, to discuss the company’s new plans to invest in the development and production of natural gas in Egypt. During the meeting, Minister Badawi emphasized the importance of the partnership with bp. He also highlighted the need for enhanced cooperation in projects aimed at increasing local natural gas production, reducing import costs, and encouraging further investments in the sector. The meeting also addressed the company’s upcoming exploration plans in its Mediterranean concession areas.
Prime Minister Mostafa Madbouly held a meeting with some officials including Minister of Investment and Foreign Trade, Hassan El-Khatib to follow up on efforts to promote investment in the gold sector. The Prime Minister reaffirmed the government’s commitment to supporting investments, especially in gold, by providing more incentives and facilitations to attract investors to the mining sector and boost its contribution to the national economy. El-Khatib reviewed a number of proposals aimed at enhancing Egypt’s gold investment capabilities, enabling the country to meet international standards and practices in mining and gold investment.
The Egyptian General Petroleum Corporation (EGPC) signed a strategic Memorandum of Understanding (MoU) with its partner, the Siemens, DNV, and EnExpert Energy Consortium. It aims to enhance safety levels and improve the efficiency, security, and sustainability of the petroleum pipeline network for crude oil and petroleum product transportation and storage. It also reinforces Egypt's position in transporting and storing petroleum materials and enables the Petroleum Pipelines Company (PPC) to move towards growth and expand its local and regional presence.
Minister of Environment, Yasmine Fouad, submitted her resignation from the government, to pursue the position of Executive Secretary of the United Nations Convention to Combat Desertification (UNCCD). Fouad, a steadfast advocate of climate goals has been in her position since 2018.
Minister of Petroleum and Mineral Resources, Karim Badawi, conducted an inspection visit to the main control center of the national gas grid, the National Advanced Transmission and Automation Centre,(NATA), affiliated with Egyptian Natural Gas Company (GASCO), to monitor the operational status of gas supplies to the electricity and industrial sectors, according to a statement from the Ministry of Petroleum and Mineral Resources. This comes as a part of the ongoing efforts to secure the local market's natural gas needs.
The Mineral Resources and Mining Industries Authority (MRMIA) signed a Memorandum of Understanding (MoU) with China's Asia-Potash International Investment (Guangzhou) Co., Ltd. The MoU is designed to strengthen joint cooperation in exploring and assessing phosphate ore reserves. The objective is to maximize the added value of this crucial resource. The signing took place in the presence of Karim Badawi, the Minister of Petroleum and Mineral Resources, according to the Ministry’s statement.
Dana Gas reported on Wednesday 9 billion cubic feet (bcf) of gas proven reserves from initial drilling results of Begonia-2 appraisal well located in the New Manzala concession area in the Nile Delta region. Production from the well is expected to reach 5 million cubic feet per day (mcf/d) of natural gas. Karim Badawi, minister of petroleum and Mineral Resources, met with Richard Hall, CEO of Dana Gas to review the company’s current activity and its future development plans in the concession areas. Hall reflected on Minister Badawi's recent visit to the Begonia-2 well site in the New Manzala onshore concession in the Nile Delta, operated by El Wastani Petroleum Company (WASCO) in partnership with Dana Gas. The visit was to oversee the start of an integrated program to drill 11 new wells. These wells are expected to add approximately 160 billion cubic feet (bcf) of natural gas, with an additional average production of about 100 million cubic feet of gas per day (mmcf/d) and 2,000 barrels per day (bbl/d) of condensates.
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Cheick-Oumar Sylla, Regional Director of the International Finance Corporation (IFC), a member of the World Bank Group. Their discussion focused on exploring potential avenues for cooperation in financing projects within Egypt's mining sector.
The Mineral Resources and Mining Industries Authority (MRMIA) signed a Memorandum of Understanding (MoU) with New Valley Company for Mineral Resources and Oil Clay (Wadico), to cooperate in completing geological, technical, and economic studies to assess oil shale reserves in Egypt and develop an integrated plan for its optimal exploitation.
