WORLD: Egypt resumes development activities in Zohr gas field
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Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, announced the resumption of development activities in the Zohr gas field, along with the drilling of two new development wells set to begin this month, Egypt Today reports. Speaking at a general session of the Egyptian Senate, the minister also revealed plans to launch the Digital Mineral Resources Portal and open new mining areas for investment by 2025, aiming to attract substantial investment in Egypt’s energy and mining sectors and strengthen their role in the national economy.
Badawi spoke about the ministry’s strategy, which focuses on addressing current challenges while building on past achievements.
This strategy is built around six key pillars: ensuring access to affordable petroleum products for citizens, increasing production, intensifying exploration activities, maximizing infrastructure in the refining and petrochemical industries, increasing the contribution of the mineral resources sector to GDP, and restructuring the country’s energy mix to include 42% renewable energy by 2030.
Highlighting Egypt’s wealth of mineral resources, Badawi highlighted the country’s significant geological reserves of minerals and raw materials. Key mining areas include the northern and southern regions, the Eastern Desert, and the Sinai Peninsula, which are abundant in phosphate, iron, lead, zinc, sulfur, kaolin, and coal.
He noted that 150 mining companies are currently operating in Egypt, including eight international firms specializing in gold exploration and exploitation.
The minister announced the initial signing of a framework agreement with Barrick Gold Corporation, granting the company concessions to mine gold in Egypt.
Furthermore, a bill was signed to modernize mining agreements, which aims to make exploration and research activities more attractive to investors.
Outlining the ministry’s 2025 action plan, Badawi highlighted priorities such as increasing production, expanding exploration and research programs, optimizing refining and petrochemical capacities, and increasing the use of natural gas in homes and vehicles to reduce costs for citizens.
The plan also aims to reduce Egypt’s imports of petroleum products and launch a digital mining portal to attract additional investment in this vital sector.
These initiatives reaffirm Egypt’s commitment to promoting its energy and mining industries, boosting economic growth, and consolidating its position as a regional leader in energy and mineral resources.
