Egypt Approves $200 Million in Energy Projects

Egyptian cabinet met on Tuesday (Asharq Al-Awsat)
Egyptian cabinet met on Tuesday (Asharq Al-Awsat)
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Egypt Approves $200 Million in Energy Projects

Egyptian cabinet met on Tuesday (Asharq Al-Awsat)
Egyptian cabinet met on Tuesday (Asharq Al-Awsat)

Egypt approved five agreements for gas and crude oil exploration projects for a number of international and national companies, with expected investments of about $200 million, the Egyptian Cabinet said in a statement on Tuesday.

“The Cabinet approved five projects for petroleum commitment agreements for the Egyptian Natural Gas Holding Company (EGAS), the Egyptian General Petroleum Corporation (EGPC), and a number of international and national companies, with expected investments of about $200 million,” the statement said.

The agreements included a draft commitment agreement to search for and exploit gas and crude oil in the North Port Fouad offshore area in the Mediterranean between EGAS and IEOC Production BV.

The agreements further included a draft commitment agreement to search for and exploit gas and crude oil in the South Nour offshore area in the Mediterranean Sea, between EGAS and IEOC Production BV.

The Cabinet approved another draft commitment agreement for the exploration and exploitation of gas and crude oil in the North Al Khatatbah onshore area in the Nile Delta between EGAS and ZN BV LTD.

The draft agreements also included a draft amendment to the commitment agreement to search for, develop, and exploit oil in the Horus Development Area in the Western Desert between EGPC, Tharwa Petroleum Company, and the General Petroleum Company (GPC).

Another draft commitment agreement was approved to search for, develop, and exploit oil in the South Dabaa Development Zone (SD-3) in the Western Desert between EGPC and HPS International Egypt Limited.



Saudi Arabia Allocates 3 Mining Complexes in Eastern and Madinah Regions

The Ministry of Industry and Mineral Resources building in Saudi Arabia. (SPA)
The Ministry of Industry and Mineral Resources building in Saudi Arabia. (SPA)
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Saudi Arabia Allocates 3 Mining Complexes in Eastern and Madinah Regions

The Ministry of Industry and Mineral Resources building in Saudi Arabia. (SPA)
The Ministry of Industry and Mineral Resources building in Saudi Arabia. (SPA)

Saudi Arabia’s Ministry of Industry and Mineral Resources has designated three sites for mining complexes in the Eastern and Madinah regions. This initiative aims to enhance the investment environment in the mining sector, improve transparency, attract investors, and support mining licenses for building materials quarries.

According to ministry spokesperson Jarrah Al-Jarrah, developing these mining complexes will help regulate the building materials quarry sector, strengthen governance in mining, and increase investor confidence.

The initiative is expected to attract further investments while ensuring sustainability by focusing on environmental protection, occupational health and safety, and community participation in the sector’s growth under the Mining Investment Law.

Al-Jarrah added that the allocated sites include a location southeast of Madinah, covering 108.25 square kilometers, a site in the Eastern Province south of Khafji, spanning 4.84 square kilometers, and another site southwest of Khafji, covering 4.28 square kilometers.

By allocating these sites, the ministry aims to stimulate local economic development by creating job opportunities for residents in nearby areas, increasing local procurement, and fostering effective community engagement.

The initiative also emphasizes adherence to environmental regulations, ensuring responsible mining practices, and implementing rehabilitation and closure plans for mining sites.