Monday 01/Sep/2025 – 04:44 PM
Engineer Karim Badawi, Minister of Petroleum and Mineral Resources, and Maryam Bint Mohammed Al -Muhairi, head of the International Affairs Office at the UAE Presidential Court, and head of the IRH Zero Group, witnessed the signing of two memoranda of understanding between the Egyptian oil and mineral wealth sector and the UAE IRH Holding Company in the fields of mining and financing, in the capital Abu Dhabi.
The signing of the memoranda of understanding between the oil and mineral wealth sector and the UAE IRH company in the fields of financing and mining
The first memo was signed between the Mineral Resources Authority and the Mineral Industries and the Emirati company, and it includes providing technical support services for the air survey project for mining opportunities in Egypt in its various stages, with the availability of a modern digital platform that facilitates effective access to the results of the survey. It was signed by the geologist Yasser Ramadan, Chairman of the Mineral Resources and Mineral Industries Authority, and Mr. Ali Rashid Al -Rashdi, CEO of IRH.
As for the second memorandum between the Egyptian General Petroleum Authority and the Emirati company, it aims to provide facilities for commercial financing for the sale and purchase of crude oil, liquefied gas, etc., in addition to setting a framework to reduce the costs of financing petroleum products by providing financing at competitive prices. It was signed by Eng. Salah Abdel Karim, CEO of the Petroleum Corporation, with the CEO of the company.
The signing of the two notes comes within the framework of the positive results of the discussions held in Cairo last month, which was established to open the prospects for cooperation between the two sides, within the framework of implementing the first axis of the Ministry’s strategy for providing petroleum products, and the third axis for increasing the return of the mining sector.
