Representatives of the Egyptian petroleum sector participated in the Africa Energies Summit, held in London from May 13 to 15. They showcased the investment opportunities the sector offers together with incentives the government grants to investors in the oil and gas deals
Prime Minister, Mostafa Madbouly conducted a site visit to Sukari Gold Mine (SGM) in Marsa Alam, where he met with executives from AngloGold Ashanti,co-owner of SGM, alongside Minister of Petroleum and Mineral Resources Karim Badawi, geological experts, and parliamentary representatives. The visit aimed to follow up work in the mine and review future expansions, and investment opportunities in Egypt’s mining sector.
Modern Gas, an Egytian joint stock company with operations in both Saudi Arabia and the United Arab Emirates (UAE), announced the successful completion and operation of its integrated natural gas project in Al Jubail Island in Abu Dhabi, UAE.
The Cabinet approved five petroleum concession agreements between the Egyptian General Petroleum Corporation (EGPC), the Egyptian Natural Gas Holding Company (EGAS), and a number of international companies. These agreements cover oil exploration and exploitation in the Northwest El-Maghara in the Western Desert, East El-Hamd and East Gemsa offshore Gulf of Suez, as well as exploration and exploitation of gas and crude oil in the North Damietta offshore area in the Mediterranean.
The Egyptian Natural Gas Holding Company (EGAS) and Harbour Energy have signed an agreement to expand exploration and production operations onshore Disouq gas field in the Nile Delta concession area. The agreement would secure an additional acreage of the concession under improved commercial terms, noted a Harbour Energy press release.
Being the operator of the field, Disouq Petroleum Company (DISOUCO), a joint venture between Harbour Energy and EGAS, gains the right to produce natural gas under the revised conditions while committing to increased drilling activities within the existing Disouq concessions and the newly awarded acreage.
United Energy Group (UEG), a global leader in renewable energy, has signed a Memorandum of Understanding (MoU) with Alexandria Fertilizers Company (AlexFert), one of Egypt's largest fertilizer producers, to develop a project to produce green ammonia from green hydrogen. Using renewable energy in the production of green ammonia, the project replaces traditional fossil fuels-based production methods with cleaner alternatives.
Khalda Petroleum, Belayim Petroleum Company (Petrobel), and the Gulf of Suez Petroleum Company (GUPCO) have made three new oil and gas discoveries in their concession areas in the Western Desert and the Gulf of Suez.
The Egyptian Natural Gas Holding Company (EGAS) has signed a 10-year charter agreement with Höegh Evi for the deployment of Hoegh Gandria as a floating storage and regasification unit (FSRU) in the fourth quarter (Q4) of 2026 to Ain Sokhna’s Sumed Port. The FSRU will provide up to 1,000 million standard cubic feet per day (mmscf/d) of peak liquefied natural gas (LNG) regasification capacity.
The Egypt Upstream Gateway (EUG) organized a specialized workshop to discuss promising exploration opportunities and undeveloped discoveries on the investment map. It reviewed 13 investment opportunities currently offered for bidding, including seven undeveloped discoveries in the Mediterranean Sea for the Egyptian Natural Gas Holding Company (EGAS) for the first time, three exploration areas in the Western Desert for the Egyptian General Petroleum Corporation (EGPC), and three exploration areas in the Gulf of Suez for the Ganoub El Wadi Petroleum Holding Company's (Ganope), which are scheduled to close on July 2, 2025.
The Ministry of Petroleum and Mineral Resources (MoPMR) has announced a compensation for citizens whose fuel pumps were damaged due to gasoline that was found to be defective after testing. The decision came after a recent surge in complaints regarding fuel quality. Drivers who reported issues between May 4 and May 10 via the hotline 16528 or the government's online complaints system will be eligible for compensation up to EGP 2,000 to cover fuel pump replacement costs.
