Egypt Strengthens Energy Partnerships Through Strategic UAE Agreements
Egypt has expanded its energy sector cooperation through two significant memoranda of understanding with UAE-based International Resources Holding, focusing on mining development and petroleum financing solutions. The first agreement between the Egyptian Mineral Resources and Mining Industries Authorities and IRH provides technical support services for Egypt’s aerial survey project to identify mining opportunities and establish a digital platform for efficient access to survey results.
The second MoU, signed between the Egyptian General Petroleum Corporation and IRH, aims to provide commercial financing facilities for crude oil, liquefied natural gas, and other petroleum products while establishing frameworks to reduce financing costs at competitive rates. The agreements were witnessed by Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and Mariam bint Mohammed Almheiri, Chair of the International Affairs Office at the UAE Presidential Court.
Additionally, TAQA Arabia’s board of directors has reviewed developments in the Zafarana solar energy project, Egypt’s first and largest solar-powered desalination plant, while exploring potential investments in liquefied natural gas projects in Tanzania. The company reported strong financial performance with consolidated revenues increasing to EGP 11 billion in the first half of 2025 from EGP 7 billion in the previous year.
Source: egyptoil-gas.com