Latest news with #KarimBadawi
Zawya
2 days ago
- Business
- Zawya
Petrojet, ENPPI approve participation in Egypt's New Valley phosphoric acid plant
Egypt - The General Assemblies of Petrojet and Engineering for the Petroleum and Process Industries (ENPPI) have approved participation in financing and implementing a phosphoric acid production plant on the Abu Tartur Plateau in Egypt's New Valley, as per a statement. The two assemblies also approved the signing of the shareholders' framework agreement and all related contracts to begin project execution. The plant's first phase will have an annual production capacity of 250,000 tons, with Petrojet and ENPPI among the participating shareholders. Minister of Petroleum and Mineral Resources Karim Badawi highlighted the strategic value of the project. Calling it a national initiative, the minister said that it aims to maximize the added value of Egypt's phosphate resources by converting raw phosphate into a finished product. He emphasized that the project supports Egypt's goal of becoming a regional hub for mining industries. This project is also aligned with state priorities to raise the mining sector's contribution to gross national product (GNP) from less than 1% to between 5% and 6% in the near term. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
3 days ago
- Business
- Zawya
Egypt signs agreement for regional seismic survey in Southern Western Desert
Arab Finance: Minister of Petroleum and Mineral Resources Karim Badawi has witnessed the signing of a new agreement to carry out a regional seismic survey in the southern Western Desert, as per a statement. The signing marks a significant step in boosting exploration activities in Upper Egypt. The agreement was signed between South Valley Egyptian Petroleum Holding Company (Ganope) and the Ardiseis Egypt branch. It involves a two-dimensional seismic survey using ground-based node technology. The project spans approximately 103,000 square kilometers, including the West Assiut and Dakhla sedimentary basins, with a total survey line length of around 5,233 kilometers. Operations are set to begin within the few coming weeks. Badawi said the survey represents an important step towards opening new horizons for exploration in promising geological areas, especially in Upper Egypt. He added that the project also strengthens technical and investment cooperation between the Egyptian and Saudi petroleum sectors, aligning with Egypt's broader strategy of advancing regional integration. Furthermore, the agreement supports the goals of the sector's first strategic axis: delivering petroleum products to citizens at the lowest possible cost by ramping up production and expanding exploration and drilling activities. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
4 days ago
- Business
- Zawya
Egypt's Minister of Petroleum to spearhead latest bid round at African Energy Week 2025
CAPE TOWN, South Africa/ -- Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, has joined the African Energy Week (AEW): Invest in African Energies 2025 conference – taking place September 29 to October 3 in Cape Town – as a speaker. His participation comes as the country advances its latest licensing round, seeking to increase production through fresh investment in offshore and onshore blocks. With the round set to close in the second half of 2025, Egypt is gearing up for accelerated growth across its upstream industry. Egypt's latest licensing round was launched in March 2025, featuring 13 offshore and onshore blocks across key hydrocarbon regions. Available acreage includes seven undeveloped fields in the Mediterranean Sea, three offshore exploration blocks in the Gulf of Suez and three onshore exploration areas in the Western Desert. The bid round forms part of a broader strategy by the Ministry of Petroleum and Mineral Resources to attract new investment across the upstream sector and follows a previous 12-block round which closed in February 2025. During AEW: Invest in African Energies 2025, Badawi is expected to share insights into the impact these licensing rounds will have on the market. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Egypt's bold licensing strategy comes as the country strives to mitigate production decline and support the development of high-potential blocks. Under the leadership of the Ministry of Petroleum and Mineral Resources, the country has set a target of drilling 586 oil and gas wells by 2030 and is strengthening collaboration with international partners to realize this goal. Recent deals and exploration milestones align with this strategy, indicating a positive growth trajectory for the country's upstream oil and gas sector. Egypt approved two transactions by Russian energy firm Lukoil in May 2025, covering exploration and production rights for acreage in the South Wadi El-Sahl region of the Eastern Desert and the Wadi El-Sahl area. Energy major ExxonMobil signed an MoU for a new operational framework in the Cairo and Masry offshore concession areas of the Mediterranean Sea while energy major Eni is spearheading a $26 billion investment strategy across three North African countries – including Egypt. In terms of drilling, Eni is preparing to drill two development wells at the Zohr gas field in 2025. ExxonMobil plans to drill a new offshore gas exploration well in the North Marakia Offshore Concession. The Egyptian Natural Gas Holding Company also plans to drill 17 exploratory and evaluation wells in 2025/2026, targeting acreage in the Delta and Mediterranean Sea. The company is investing $434 million in drilling activities. Beyond exploration, Egypt is working toward scaling-up its production and export capacity to support growing demand in both regional and international markets. As one of Africa's top gas producers, Egypt already plays an instrumental part in global supply chains, but upcoming projects stand to further consolidate its position as a global exporter. Turkey is deploying a floating storage and regasification unit (FSRU) to Egypt, which will provide LNG storage and regasification services to the country during peak demand periods in 2025. Another agreement was signed with energy infrastructure firm Höegh Evi for the supply of a FSRU, which will be situated at the Port of Sumed in Q4, 2026. The FSRU enhance the country's regasification and export capacity. Meanwhile, energy major Chevron announced plans to conduct a seabed survey in the eastern Mediterranean, aiming to develop a pipeline that will transport gas from Cyprus' Aphrodite field to processing facilities in Egypt. This will not only support regional gas monetization but cements Egypt's role as a regional petroleum hub. Badawi's insights at AEW: Invest in African Energies 2025 are expected to support both upcoming projects and efforts to integrate regional markets. 'Egypt is not only assessing short-term production strategies but implementing initiatives that ensure long-term growth across the upstream oil and gas industry. Spearheaded by Minister Badawi, the country is advancing its bold licensing strategy, offering blocks that have the potential to transform the exploration and production space. This approach signals a strong commitment by the government to establish a globally-competitive and resilient energy sector in North Africa,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber. SOURCE African Energy Chamber
Zawya
4 days ago
- Business
- Zawya
Egypt's Minister of Petroleum to Spearhead Latest Bid Round at African Energy Week (AEW) 2025
Karim Badawi, Egypt's Minister of Petroleum and Mineral Resources, has joined the African Energy Week (AEW): Invest in African Energies 2025 conference – taking place September 29 to October 3 in Cape Town – as a speaker. His participation comes as the country advances its latest licensing round, seeking to increase production through fresh investment in offshore and onshore blocks. With the round set to close in the second half of 2025, Egypt is gearing up for accelerated growth across its upstream industry. Egypt's latest licensing round was launched in March 2025, featuring 13 offshore and onshore blocks across key hydrocarbon regions. Available acreage includes seven undeveloped fields in the Mediterranean Sea, three offshore exploration blocks in the Gulf of Suez and three onshore exploration areas in the Western Desert. The bid round forms part of a broader strategy by the Ministry of Petroleum and Mineral Resources to attract new investment across the upstream sector and follows a previous 12-block round which closed in February 2025. During AEW: Invest in African Energies 2025, Badawi is expected to share insights into the impact these licensing rounds will have on the market. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Egypt's bold licensing strategy comes as the country strives to mitigate production decline and support the development of high-potential blocks. Under the leadership of the Ministry of Petroleum and Mineral Resources, the country has set a target of drilling 586 oil and gas wells by 2030 and is strengthening collaboration with international partners to realize this goal. Recent deals and exploration milestones align with this strategy, indicating a positive growth trajectory for the country's upstream oil and gas sector. Egypt approved two transactions by Russian energy firm Lukoil in May 2025, covering exploration and production rights for acreage in the South Wadi El-Sahl region of the Eastern Desert and the Wadi El-Sahl area. Energy major ExxonMobil signed an MoU for a new operational framework in the Cairo and Masry offshore concession areas of the Mediterranean Sea while energy major Eni is spearheading a $26 billion investment strategy across three North African countries – including Egypt. In terms of drilling, Eni is preparing to drill two development wells at the Zohr gas field in 2025. ExxonMobil plans to drill a new offshore gas exploration well in the North Marakia Offshore Concession. The Egyptian Natural Gas Holding Company also plans to drill 17 exploratory and evaluation wells in 2025/2026, targeting acreage in the Delta and Mediterranean Sea. The company is investing $434 million in drilling activities. Beyond exploration, Egypt is working toward scaling-up its production and export capacity to support growing demand in both regional and international markets. As one of Africa's top gas producers, Egypt already plays an instrumental part in global supply chains, but upcoming projects stand to further consolidate its position as a global exporter. Turkey is deploying a floating storage and regasification unit (FSRU) to Egypt, which will provide LNG storage and regasification services to the country during peak demand periods in 2025. Another agreement was signed with energy infrastructure firm Höegh Evi for the supply of a FSRU, which will be situated at the Port of Sumed in Q4, 2026. The FSRU enhance the country's regasification and export capacity. Meanwhile, energy major Chevron announced plans to conduct a seabed survey in the eastern Mediterranean, aiming to develop a pipeline that will transport gas from Cyprus' Aphrodite field to processing facilities in Egypt. This will not only support regional gas monetization but cements Egypt's role as a regional petroleum hub. Badawi's insights at AEW: Invest in African Energies 2025 are expected to support both upcoming projects and efforts to integrate regional markets. 'Egypt is not only assessing short-term production strategies but implementing initiatives that ensure long-term growth across the upstream oil and gas industry. Spearheaded by Minister Badawi, the country is advancing its bold licensing strategy, offering blocks that have the potential to transform the exploration and production space. This approach signals a strong commitment by the government to establish a globally-competitive and resilient energy sector in North Africa,' states Tomás Gerbasio, VP Commercial and Strategic Engagement, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Zawya
17-06-2025
- Business
- Zawya
Egypt: Madbouly reviews progress of government IPO program in petroleum, public business sectors
Arab Finance: Prime Minister Mostafa Madbouly held a meeting to follow up on the implementation of the government's IPO program across the petroleum and public business sectors, reaffirming the state's commitment to advancing the program in line with the State Ownership Policy Document, as per a statement. The meeting was attended by Minister of Petroleum and Mineral Resources Karim Badawi, Minister of Investment and Foreign Trade Hassan El Khatib, Minister of the Public Business Sector Mohamed Shimi, and senior officials from relevant bodies. Madbouly underscored the government's focus on closely monitoring the implementation of the IPO program and the steps taken by relevant entities to ensure progress. He noted that today's discussion was part of regular efforts to track the IPO rollout in key sectors, particularly petroleum and public business, in support of Egypt's broader objective to expand private sector participation in the economy. The Prime Minister reiterated that the government remains committed to removing barriers to private investment and enabling the private sector to play a leading role in driving development, particularly in high-potential and strategic areas. During the meeting, Badawi reviewed a number of investment opportunities open to the private sector in the petroleum and mineral resources sector, stressing the ministry's intention to enhance collaboration with private investors to raise investment volumes and support national development goals. Meanwhile, Shimi presented opportunities for private investment in state-affiliated companies, highlighting sectors such as mining and tourism among those open for private participation. Additionally, El-Khatib proposed developing a clear strategic framework for the IPO process in targeted sectors, with the goal of optimizing the use of state-owned assets and creating successful public-private partnerships in alignment with the objectives of the offering program. Hence, Madbouly directed the concerned ministries to prepare a comprehensive vision for the IPO process in coordination with one another, to be submitted for Cabinet review in the coming period. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
