Yasser Ramadan, Chairman of the Mineral Resources and Mining Industries Authority (MRMIA), held a number of meetings with international investors showing interest in investing in the Egyptian mining sector. The meetings took place on the sidelines of the 4th edition of the Egypt Mining Forum.
United Energy Egypt (UEE) has signed a Memorandum of Understanding (MoU) with LONGi Green Energy, a global leader in solar technology, to deploy a 20-megawatt (MW) hybrid solar power system across six oil fields. The project is expected to deliver 24,800 megawatt per hour (MWh) of annual clean energy, powering more than 6,000 Egyptian households, while avoiding over 14,000 tons of carbon dioxide emissions yearly, equivalent to removing 3,000 gasoline vehicles.
Egypt has leased the Energos Winter floating, storage, and regasification unit (FSRU) for five years and the unit is expected to arrive at Damietta port by August this year. So far, there are three connected regasification units to SUMED and Sonker berths in Ain Sokhna port. The three units hold regasification capacity of 2,250 million standard cubic feet per day (mmscf/d), Moataz Atef, Undersecretary of the Minister’s Technical Office and Official Spokesperson, Ministry of Petroleum and Mineral Resources.
Minister of Petroleum and Mineral Resources Karim Badawi issued a new round of appointments for finance and contracts directors in a number of petroleum sector companies.
The Egyptian government revised its target for renewable energy contribution to power generation to 29.7 % by 2030, according to the International Monetary Fund (IMF) report on the fourth review of the $8bn loan.
The new target is compared to the 42 per cent by 2023 given by several government officials, including the prime minister and the 42 % by 2040 noted by Mahmoud Esmat, Minister of Electricity and Renewable Energy, in September 2024
The Ministry of Petroleum and Mineral Resources is set to implement a monitoring, reporting, and verification (MRV) system to regularly track flaring, fugitive methane, and vented methane emissions at the operator or project level. Furthermore, a new decree will mandate operating companies to submit and secure approval for targets aimed at reducing oil and gas sector emissions, aligning with Egypt's Nationally Determined Contributions (NDCs). Non-compliance will incur fines following a two-year grace period.
The Mineral Resources and Mining Industries Authority (MRMIA) will commence aerial survey for mineral exploration for the first time in decades as part of the sector development strategy, said Minister of Petroleum and Mineral Resources, Karim Badawi during the closing session of Egypt Mining Forum in Cairo.
Witnessed by the Minister of Petroleum and Mineral Resources Karim Badawi, the Egyptian Mining Resources Authority (EMRA) and Aton Resources Company have signed a preliminary agreement to study amending the Abu Marawat Concession agreement.
The Chairman of the Egyptian Mineral Resources Authority (EMRA), Yasser Ramadan, announced that the Authority will finalize and launch its new mining geoportal by the end of the year. The move supports EMRA’s transformation into an economic body, with a dedicated digital platform that provides investors with the up-to-date geological data they need to make informed investment decisions in Egypt.
“We needed to think like an investor. So we had to ask: what does an investor need? An investor needs clarity, stability, and a huge amount of data. Data is crucial for making a decision to invest,” said Ramadan.
Minister of Petroleum and Mineral Resources, Karim Badawi, met with Jesus Lamas, SLB 's Regional President, accompanied by Sherif Bayoumy, the company’s General Manager for Egypt and the Eastern Mediterranean. The meeting focused on the petroleum sector's six core strategic pillars, emphasizing expanded exploration, development projects, and increased oil and natural gas production. The pivotal role of SLB , previously known as Schlumberger, as a strategic partner in initiatives like the Egypt Upstream Gateway (EUG) and regional seismic surveys in the Red Sea and Gulf of Suez, was reviewed.
