Egypt Leases Energos Winter FSRU for Five Years, Arrives in Damietta Port By August

• Thursday, 17th July 2025
• by Doaa Ashraf

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.

Badawi Issues New Promotions Across Oil, Gas Sector

• Thursday, 17th July 2025
• by Sarah Samir

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.

Egypt Revises Renewable Energy Target to 29.7%: IMF

• Thursday, 17th July 2025
• by Sarah Samir

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

Egypt Ramps Up Methane Emission Controls in Oil, Gas Sector: IMF

• Thursday, 17th July 2025
• by Sarah Samir

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.

Egypt to Launch its First Aerial Mineral Survey in Decades

• Thursday, 17th July 2025
• by Doaa Ashraf

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.  

EMRA Mulls Amending Abu Marawat Concession Agreement with Aton

• Wednesday, 16th July 2025
• by Fatma Ahmed

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.

EMRA to Finalize Mining Geoportal by Year-End: Chairman

• Wednesday, 16th July 2025
• by Reem Hossam El-Dein

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.

Egypt, SLB Talk Future of Egypt’s Oil and Gas Sector

• Wednesday, 16th July 2025
• by Sarah Samir

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.

Egypt Has Potential for Strong Risk-Reward Ratio: Investors at Mining Forum

• Wednesday, 16th July 2025
• by Reem Hossam El-Dein

Investors and mining executives on the second day of the Egypt Mining Forum said that recent government reforms are improving the country’s appeal as a mining destination, citing a better risk-reward balance and increasing openness to foreign investment.

Speaking at one of the panel discussions on the second day of the forum, Mostafa Talaat, CEO of Egypt-based junior exploration firm ANKH Resources, praised the Cabinet’s efforts to foster transparency and open dialogue, saying these measures are encouraging companies to grow.

Wadico is to Launch Egypt’s First Oil Shale Exploration and Production Project

• Wednesday, 16th July 2025
• by Sarah Samir

New Valley Company for Mineral Resources and Oil Clay (Wadico) signed a strategic cooperation agreement with the global BCM Group. This agreement is set to launch the first project of its kind in Egypt for the exploration and production of oil shale.