Prime Minister Mostafa Madbouly met with Mohammed Saeed Al Dhanhani, Director of the Fujairah Emiri Court in the United Arab Emirates, to follow up on the procedures and steps required to implement a major project in Egypt’s petroleum sector following the establishment of Fujairah Alamein Oil and Gas Company.
At the start of the meeting, Madbouly stressed the importance President Abdel Fattah Al-Sisi attaches to the promising strategic project, whose agreement was recently signed. He said the completion of procedures to establish Fujairah Alamein Oil and Gas Company and the convening of its constituent general assembly at El Hamra Petroleum Port, operated by the Western Desert Operating Petroleum Company (WEPCO) in New Alamein, come within the framework of the longstanding strategic relations between Egypt and the UAE.
Madbouly also stressed the project’s vital importance and its multiple development dimensions in the energy sector. He underlined the need to accelerate efforts and intensify joint work to expedite the establishment of a private free zone in New Alamein under the name of Fujairah Alamein Oil and Gas Company. The company will undertake the storage and handling of petroleum products and crude oil, with efforts also focused on moving swiftly towards actual operations. This would serve the mutual interests of the two countries and reflect the depth of their longstanding strategic relationship.
For his part, Al Dhanhani thanked the prime minister and the Egyptian government for their efforts on the project, particularly the Ministry of Petroleum and Mineral Resources for its support in establishing the company.
Al Dhanhani conveyed Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and Ruler of Fujairah’s keenness to expand cooperation with the Egyptian side. He also stressed the commitment to swiftly implementing the project in accordance with the directives of the Ruler of Fujairah.
The meeting reviewed the project’s implementation steps. The project forms part of efforts to support and strengthen Egypt’s role as a regional hub for energy trade and handling, and aims to develop El Hamra Port through cooperation and integration with the Fujairah Oil and Gas Corporation.
Cooperation will also include the transfer of expertise and the application of the latest systems and technologies, enhancing the port’s efficiency and bringing it up to international standards. The project will involve storing crude oil at the storage facilities of El Hamra Petroleum Port in New Alamein, maximising the economic benefits and returns generated from Egypt’s infrastructure and capitalising on the port’s strategic location and advanced infrastructure to establish it as a strategic hub for crude oil storage and transportation.
Petroleum and Mineral Resources Minister Karim Badawi stressed the importance of the project and the significant government support provided by both the Egyptian and Emirati sides to ensure its success on Egypt’s Mediterranean coast and replicate the successful project currently operating in the Emirate of Fujairah.
Badawi said ensuring the success of the major project is a top priority, adding that joint teams from both sides are working in full and continuous coordination to achieve this objective, complete the procedures and steps required for implementation, and establish a specific timetable for the various implementation phases.
He stressed that the ministry would provide all necessary support and work to overcome any challenges that could arise during implementation.
At the conclusion of the meeting, Madbouly said he would regularly follow up on the project’s implementation phases to ensure it becomes another success story modelled on the project implemented in the Emirate of Fujairah.
