The recent signing of a memorandum of understanding between Egypt and the UAE marks a significant step toward establishing a new logistics zone in New Alamein City. This ambitious project, which has the potential to attract investments of up to $3 billion, is set to enhance the region’s infrastructure and economic growth.

This initiative aligns with the Egyptian Ministry of Petroleum and Mineral Resources’ strategy to solidify Egypt’s role as a regional hub for trading crude oil and petroleum products. The project will streamline the receipt and trade of these critical resources by capitalizing on the existing port infrastructure.

Additionally, the project aims to supply petroleum products to Egypt’s domestic market, benefiting from the Fujairah Company’s extensive partnerships with global oil and gas suppliers. This collaboration will give the Egyptian General Petroleum Corporation a significant competitive advantage in regional and global markets.

To ensure the smooth implementation of the agreement, a joint working team comprising representatives from both the Egyptian and Emirati sides has been established. This team will oversee progress and address any challenges during the project.

The announcement follows Dragon Oil’s deployment of AI technology to enhance the Morgan and Badri fields in Egypt last July, highlighting a growing trend of technological advancements in the region’s energy sector.

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