President Abdel Fattah El-Sisi met with John Christmann, CEO of US Apache Corporation to review its current activities and plans to expand its exploration and production activities in Egypt.
Minister of Petroleum and Mineral Resources Karim Badawi held a meeting with Naguib Sawiris, Chairman of In2metals Holding Company and Orascom Investment Holding, to discuss means of boosting cooperation in the mining sector. The Sawiris family fully owns In2Metals, which is incorporated in Luxembourg and focuses on gold and copper exploration. The company holds an 80.1 per cent stake in Akh Gold, KH Gold, a gold exploration company focused on discovering gold deposits in Egypt's Eastern Desert.
Karim Badawi, the Minister of Petroleum and Mineral Resources, met with Cyprus’s Ambassador to Egypt, Polly Ioannou, at the ministry’s headquarters in the New Administrative Capital to discuss prospects for cooperation between the two countries in the mining sector. Ambassador Ioannou revealed that several Cyprus-based mining companies have shown strong interest in investing in Egypt’s mining sector, praising the notable progress the industry has achieved. She said that recent reforms have created a more investment-friendly environment, making Egypt an increasingly attractive destination for foreign investors.
Minister of Petroleum and Mineral Resources, Karim Badawi met with Nasser Saif Al-Yafei, CEO of ARCIUS Energy, a joint venture between BP and ADNOC’s subsidiary XRG, to review ongoing work plans as well as discuss means to boost investments in natural gas exploration and production in the Mediterranean.
Zohr field currently contributes more than 23% of Egypt's total gas production, said Karim Badawi, Minister of Petroleum and Mineral Resources, adding that the Mediterranean region would witness stability in production and further development and exploration plans.
Badawi revealed during an interview on DMC TV Channel that Eni, the operator of Zohr, will increase its investment in Egypt by $8 billion over the coming five years, including projects in the Zohr, Dennis, Nour, and Narges fields.
Moreover, he noted that between October 25 and December 26, more than $1.2 billion in foreign investments will be directed to over 100 exploration wells, with about 14 exploration wells expected to be the Mediterranean region.
Egyptian Company for Mineral Resources (ECMR) has signed a framework agreement for phosphate ore processing projects with Ferchem Masr Fertilizers and Chemicals, one of Polyserve Group companies. The deal entails building two plants: One for producing phosphate fertilizers while the other is for upgrading low-grade phosphate ore to maximize its economic value.
Minister of Petroleum and Mineral Resources, Karim Badawi, inspected the offshore drilling rig Cairo-2, operated by Modern Drilling Company (MDC) in Alexandria, before its transfer to its next drilling site at Dennis West 1X exploratory well in the Temsah concession, offshore Port Said in the Mediterranean Sea.
The Dennis West 1X well, set to be drilled in deep waters at depths exceeding 4,000 meters through slanted drilling operations, is a significant project managed by Belayim Petroleum Company (Petrobel)—a joint venture between the Egyptian General Petroleum Corporation (EGPC) and Italy’s Eni.
Minister of Petroleum and Mineral Resources, Karim Badawi, has announced new leadership appointments at several petroleum sector companies as part of efforts to enhance operational efficiency and support the ministry's strategic objectives.
Yasser Ramadan, Chairman of the Mineral Resources and Mining Industries Authority, has recently represented Egypt at major international mining events, showcasing the country’s investment potential and reform agenda. At the Egypt–China Investment and Innovation Forum, he emphasized mining as a national priority to boost GDP contribution to 5–6% by 2030, highlighting cooperation with China’s Asia-Potash on phosphate development. During African Mining Week in Cape Town, he promoted Egypt’s rich geological potential, infrastructure, and skilled workforce while calling for greater African integration, value-added industries, and sustainable partnerships to transform the continent’s mining sector.
ExxonMobil Egypt, a leading provider of high-quality lubricants and fuels, has signed a cooperation agreement with Octane, an Egyptian fintech company providing a digital wallet and management platform for vehicle-related expenses, to support the transport sector in the domestic market and blend industry with technology. Sherif Serag El Din, Vice Chairman, Managing Director, and Fuels Sales Manager at ExxonMobil Egypt, emphasized that this cooperation is an essential part of the company’s digital transformation strategy, which includes initiatives such as ‘Mobilawy'.
