PM discusses steps to implement Fujairah-Alamein oil and gas project

Egypt and the United Arab Emirates are moving to turn a recently signed agreement into an operating oil and gas company based in New Alamein, with Prime Minister Mostafa Madbouly calling for faster implementation.

Madbouly met Mohammed Saeed al Dhanhani, director of the Fujairah Amiri Diwan, at the government headquarters in Egypt’s New Capital. Petroleum and Mineral Resources Minister Karim Badawi also attended the meeting, which focused on completing the company’s founding procedures and holding its inaugural general assembly at Al-Hamra Petroleum Port.

The planned Fujairah Alamein Oil and Gas Company will operate in the storage and trading of petroleum products and crude oil. Egypt also plans to establish a special free zone under the company’s name in New Alamein City, allowing the project to move into operational phases.

The project is intended to develop Al-Hamra Port through cooperation with the Fujairah Oil and Gas Corporation. The plans include transferring expertise, adopting newer systems and technologies, and improving the port’s efficiency to meet international standards. Crude oil would be stored in Al-Hamra’s facilities, using the port’s location and infrastructure to support storage and transportation.

Madbouly described the project as strategically promising and linked it to the longstanding relationship between Egypt and the UAE. Dhanhani conveyed the commitment of Sheikh Hamad bin Mohammed Al Sharqi, ruler of Fujairah, to strengthening cooperation and accelerating the project’s implementation.

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a promising strategic project