Egypt Today: The Ministry of Petroleum and Mineral Resources announced the signing of two key Memoranda of Understanding (MoUs) between Egypt and the UAE’s International Resources Holding (IRH), strengthening cooperation in the petroleum and mining sectors.
The first MoU, signed between the Egyptian Mineral Resources Authority (EMRA) and IRH, provides technical support for Egypt’s airborne survey project to explore mining opportunities. It also includes the launch of a modern digital platform to ensure efficient access to survey results.
The second MoU, concluded between the Egyptian General Petroleum Corporation (EGPC) and IRH, focuses on securing commercial financing facilities for transactions involving crude oil, liquefied natural gas (LNG), and other petroleum products. The agreement further sets a framework to lower financing costs by offering competitive funding rates. It was signed by Eng. Salah Abdel Karim, CEO of EGPC, and IRH’s Chief Executive Officer.
The signing ceremony was attended by Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, and Mariam bint Mohammed Almheiri, Head of International Affairs at the UAE Presidential Court and Chair of Point Zero, an IRH subsidiary.
These agreements build on the outcomes of last month’s talks in Cairo and align with the ministry’s strategy—ensuring the availability of petroleum products and boosting returns from the mining sector.
https://www.egypttoday.com/Article/3/142054/Egypt-UAE%E2%80%99s-IRH-seal-strategic-MoUs-in-petroleum-mining
