Badawi explores broader participation of Egyptian petroleum firms in Saudi Arabia’s NEOM project
Updated 12/7/2025 9:36:00 AM
Arab Finance: Egypt is examining broader opportunities for its petroleum and engineering companies to participate in Saudi Arabia’s NEOM project, following an official visit by Minister of Petroleum and Mineral Resources Karim Badawi to the Kingdom, as per a statement by the Egyptian Ministry of Petroleum and Mineral Resources.
Badawi led a high-level delegation that included the heads of Petrojet and Enppi, the Ministry’s Undersecretary for Projects, and the Vice President of Gas Egypt.
The visit focused on increasing the involvement of Egyptian firms in energy and infrastructure projects in Saudi Arabia, expanding cooperation in the petroleum and mining sectors, and encouraging Saudi investment in Egypt.
The delegation met with NEOM CEO Aiman Al-Mudaifer and senior company officials to review developments in the NEOM project and the opportunities available within the framework of Saudi Vision 2030.
The minister noted Egypt’s interest in pursuing these opportunities and expanding the presence of Egyptian petroleum companies in NEOM, referring to Petrojet’s current work in the project.
Talks also covered potential cooperation in energy projects, including green hydrogen, where the ministry outlined the capabilities and experience of Egyptian companies.
Discussions extended to possible areas of industrial and investment cooperation that could align with NEOM’s operations, such as petrochemicals, sustainable building materials, clean energy technology industries, and improving energy efficiency.
The meeting also reviewed potential cooperation between the Egyptian Mineral Resources Authority and NEOM’s industrial projects to help meet the city’s needs for strategic minerals.
Both sides highlighted the importance of exchanging expertise and considering short-term training programs for Egyptian personnel in coordination with NEOM’s specialized companies.
The visit concluded with an agreement to form joint working groups to examine cooperation opportunities and explore pathways for a strategic partnership between the Egyptian petroleum sector and NEOM.
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