Karim Badawi, Minister of Petroleum and Mineral Resources, participated in a high-level panel on the future of energy during St. Petersburg International Economic Forum (SPIEF), alongside a number of ministers and senior officials.
The Egyptian Drilling Company (EDC), the drilling arm of Egypt’s petroleum sector, has begun a new overseas operation with the deployment of the EDC 42 and EDC 52 drilling rigs in the Diyarbakir region of southeastern Türkiye.
The project is being implemented under a two-year contract between EDC and the Turkish Petroleum Corporation (TPAO) valued at $43 million, according to the Ministry of Petroleum and Mineral Resources (MoPMR).
Salah Abdel Kerim, CEO of the Egyptian General Petroleum Corporation (EGPC), mandated strict adherence to drilling schedules and development timelines to secure sustainable production growth during an extensive field inspection of the North Bahariya Petroleum Company (NORPETCO) fields in the Western Desert.
The Egyptian Cabinet approved four draft petroleum agreements that cover drilling of at least six wells, and have a minimum investment value of $52.97 million, Prime Minister Moustafa Madbouly announced during the cabinet’s 94th weekly meeting.
Mahmoud Esmat, Minister of Electricity and Renewable Energy, witnessed the signing of two agreements to establish separate battery energy storage stations with a combined capacity of 1,500 megawatt-hour (MWh) in the Zafarana and Benban areas. The ceremony also included the signing of an agreement to build a factory for producing battery storage systems with an annual capacity of 3,000 MWh.
The signing was attended by Sheikh Hussein Al Nowais, Chairman of UAE-based AlNowais Investments and its subsidiary AMEA Power, and Ni Jin, Chairman of China Energy Engineering Corp. The contracts cover Engineering, Procurement, and Construction (EPC) works for the Horus standalone battery project with a capacity of 500 MWh at Zafarana and the Nefertiti standalone battery project at Benban with a capacity of 1,000 MWh.
Karim Badawi, Minister of Petroleum and Mineral Resources, met senior executives from leading international mining companies to explore new investment opportunities in gold exploration. The talks come as Egypt advances legislative and regulatory reforms designed to streamline procedures and attract greater investment into the mining sector, according to a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Egypt and Cyprus are moving closer to finalising the technical and commercial agreements to connect Cyprus’s Aphrodite offshore natural gas field to Egypt's infrastructure. The project aims to transport the field’s production to Egypt for processing and re-export, maximizing Egypt’s role as a regional hub for energy trade and exchange, noted a statement by the Ministry of Petroleum and Mineral Resources (MoPMR).
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Scott Childers, Director of Strategic Assets and Emerging Markets at Chevron, the operator of the Cypriot field, along with an accompanying delegation, to follow up on preparatory procedures for the natural gas development and production project.
The Ministry of Petroleum and Mineral Resources (MoPMR) has opened bidding for the NE Esh El Mallaha Block in the Gulf of Suez region, starting June 3 and up to August 3, through the Egypt Upstream Gateway (EUG) under its Open Blocks Licensing Program (OBLP). The program offers 49 blocks throughout the year to ensure continuous access to investment opportunities, EUG said in a statement.
The Egyptian General Petroleum Corporation (EGPC) has launched an initiative to develop the environmental performance across its affiliated companies.
The EGPC Green Oilfield initiative aims to transition companies from basic environmental compliance to a mature risk-management system while enhancing site readiness to meet regulatory requirements, according to an EGPC statement.s.
The Egyptian Cabinet approved a draft law that cancelled the exemption of natural gas from the value-added tax (VAT), making it subject to a table tax of EGP 20 per 1,000 cubic feet (cf). This comes as part of a wider plan to increase state revenues and widen the tax base.
