Minister of Petroleum Commends Completion of Establishment Procedures for "Fujairah-Alamein Oil and Gas": Opens New Horizons for Joint Investments in Petroleum Products
Cairo - Nadeh Imam
Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, commended the completion of the establishment procedures for “Fujairah-El Alamein Oil and Gas Company” and the holding of its inaugural general assembly meeting at the Al Hamra Petroleum Port, belonging to WEPCO, in New Alamein.
The establishment of the new company comes within the framework of the solid strategic relations between the Arab Republic of Egypt and the United Arab Emirates, and as a culmination of the Memorandum of Understanding signed between the Ministry of Petroleum and Mineral Resources and the Government of the Emirate of Fujairah. It is also pursuant to Cabinet Resolution No. 65 of 2026, which approved the creation of a special free zone named “Fujairah-El Alamein Oil and Gas - S.A.E.” in New Alamein, to conduct activities related to the storage and trading of petroleum products and crude oil.
The company is scheduled to implement, operate, and manage a logistics zone for the storage and trading of crude oil and petroleum products at the Al Hamra Petroleum Port in New Alamein on the Mediterranean coast. This represents a new step toward enhancing economic and investment partnership between Egypt and the UAE, and maximizing the utilization of the capabilities, infrastructure, and expertise available to both sides.
The Minister of Petroleum extended his congratulations on the completion of the company’s establishment, emphasizing that this step marks an important transition from the planning and agreements phase to actual implementation, opening new horizons for joint investments in activities related to the reception, storage, trading, and commerce of crude oil and petroleum products. This will support the competitiveness of the Egyptian petroleum sector and enhance its logistical capabilities.
He affirmed that the project aligns with the Ministry of Petroleum and Mineral Resources’ strategy to maximize the economic benefit from existing infrastructure and to strengthen Egypt’s position as a regional hub for petroleum and energy trading.
He noted that the Al Hamra Petroleum Port possesses distinctive strategic assets, foremost among them its vital location on the Mediterranean Sea, along with its advanced infrastructure, storage capacities, and logistical potential, which qualify it to play a pivotal role in regional and international petroleum trade movements.
He clarified that the partnership aims to apply the latest global operational and management systems in petroleum storage, trading, and commerce centers, and to benefit from specialized global expertise, while adhering to the highest international standards in safety, occupational health, environmental protection, and operational efficiency.
He directed the swift completion of the necessary procedures and steps to implement the project, and the establishment of a specific timeline for implementation phases, emphasizing that the Ministry will provide all necessary support and remove any challenges that may face the project, ensuring its accelerated entry into operation and the achievement of its economic and investment targets.
The project represents a qualitative addition to Egypt’s petroleum infrastructure system by maximizing the economic value of the strategic location of Al Hamra Port and developing its role, thereby supporting the Egyptian state’s efforts to consolidate its position as a regional hub for energy trading and to maximize the benefits of its geographical location and advanced infrastructure.
