Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, commended the completion of the incorporation procedures of Fujairah Alamein Oil & Gas Company and the convening of its Constitutive General Assembly meeting yesterday at WEPCO's El Hamra Terminal, in New Alamein.
The incorporation of the new company comes within the framework of the deep-rooted strategic relations between Egypt and the UAE, and marks the culmination of the Memorandum of Understanding (MoU) signed between the Ministry of Petroleum and Mineral Resources and the Government of the Emirate of Fujairah. With pursuant to Prime Ministerial Decree No. 65 of 2026, approving the establishment of a special free zone under the name of Fujairah Alamein Oil & Gas, L.L.C. in New Alamein City, to engage in the activities of storing and trading petroleum products and crude oil.
The company will execute, operate and manage a logistic zone for the storage and trading of crude oil and petroleum products at El Hamra Terminal in New Alamein on the Mediterranean coast, representing a new step toward strengthening the economic and investment partnership between Egypt and the UAE, while maximizing the benefits of the capabilities, infrastructure, and expertise available to both sides.
The Minister extended his congratulations on the successful establishment of the company, emphasizing that this step marks a significant transition from the planning and agreement stage to actual implementation, opening up new avenues for joint investment in the receiption, storage and trading of crude oil and petroleum products, thereby supporting the competitiveness of Egypt's petroleum sector and enhancing its logistical capabilities.
He affirmed that the project forms part of the Ministry of Petroleum and Mineral Resources' strategy to maximize the economic benefits of existing infrastructure and strengthen Egypt's position as a regional hub for petroleum and energy trading.
The Minister highlighted the strategic advantages of El Hamra Terminal, particularly its vital location on the Mediterranean Sea, advanced infrastructure, storage capacities, and logistics capabilities, enabling the Terminal to play a pivotal role in regional and international oil trading activities.
The Minister added that the partnership aims to implement the latest international operating and management systems at petroleum storage and trading facilities, while leveraging specialized global expertise and adhering to the highest international HSE standards, and operational efficiency.
The Minister also directed that the necessary procedures and steps for implementing the project be expedited, with a clearly defined timeline established for the various stages of implementation. He affirmed that the Ministry would provide full support and address any challenges that may arise, thereby ensuring the project's swift entry into operation and the achievement of its economic and investment objectives.
The project represents a significant addition to Egypt's petroleum infrastructure, by maximizing the economic value of the strategic location of Al Hamra Port and enhancing its role. This supports Egypt's efforts to consolidate its position as a regional hub for energy trading, while maximizing the benefits of its geographic location and advanced infrastructure.
