Egypt – Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, emphasized the deep-rooted ties between Egypt and the UAE, underscoring that investments in the energy, petroleum, and natural gas sectors are key symbols of the strong cooperation between the two nations. Among the leading investments is Mubadala Energy, an Emirati company demonstrating serious collaboration and commitment to Egypt’s energy sector.
Minister Badawi welcomed the expansion of Emirati investments in Egypt’s petroleum and mining sectors, particularly as new investment opportunities continue to emerge. His remarks came during a meeting with a delegation from Mubadala Energy, led by CEO Mansoor Mohammed Al Hamed. The delegation included Adnan Buftaim, Executive Vice President for Global Technical Operations; Zayed Al Mazrouei, Head of Marketing and Refining; and Salma Al Hajri, Regional Vice President for the Eastern Mediterranean and North Africa.
During the meeting, the parties reviewed Mubadala’s ongoing natural gas exploration activities in Egypt, particularly its involvement in key projects in the Mediterranean Sea. Mubadala currently holds a 10% stake in the Zohr gas field, a 20% stake in the Noor gas field, and a 27% stake in Block 4 of the Red Sea.
The discussion also addressed the recent global bid for natural gas exploration in the Mediterranean and the Nile Delta, launched by the Egyptian Natural Gas Holding Company (EGAS), covering 12 areas. Mubadala expressed interest in this bid and has reviewed the available information via the Egypt Upstream Gateway (EUG) platform.
Mansoor Al Hamed, CEO of Mubadala Energy, highlighted the promising opportunities for further expansion, citing the excellent relations between Egypt and the UAE. He noted that Mubadala’s partnerships in gas exploration and production, in collaboration with international companies, provide a solid foundation for future expansion into other regions.
Al Hamed also underscored Mubadala’s strategic involvement in the Arab Petroleum Pipelines Company “SUMED,” describing it as one of the most successful examples of Arab cooperation. He reiterated the company’s commitment to maintaining open dialogue and exploring new avenues for future collaboration.
Several senior officials were present at the meeting, including Alaa El Batal, CEO of the Egyptian General Petroleum Corporation (EGPC); Samir Raslan, Undersecretary of the Ministry for Agreements and Exploration; Ahmed Mostafa, Undersecretary of the Ministry for Production; Mohamed Abdelhafez, Chairperson of SUMED; and Mohamed Radwan, Exploration Manager at the Ministry of Petroleum and Manager of EUG.