Egypt and UAE’s IRH signed two Memoranda of Understanding (MoUs) in Petroleum and mining sector, according to the statement released by the Ministry of Petroleum and Mineral Resources.

The first MoU was signed between the Egyptian Mineral Resources Authority (EMRA) and the Emirati company, covering the provision of technical support services for Egypt’s airborne survey project to identify mining opportunities across different phases.

It also includes the development of a modern digital platform to facilitate effective access to survey results.

The second MoU, signed between the Egyptian General Petroleum Corporation (EGPC) and IRH, aims to provide commercial financing facilities for transactions involving crude oil, liquefied natural gas (LNG), and other petroleum products.

 It further establishes a framework to reduce financing costs for petroleum products by offering funding at competitive rates. The agreement was signed by Eng. Salah Abdel Karim, CEO of EGPC, along with IRH’s Chief Executive Officer.

This was in the presence of Karim Badawi, Minister of Petroleum and Mineral Resources, and Mariam bint Mohammed Almheiri, Head of the Office of International Affairs at the UAE Presidential Court and Chair of Point Zero, a subsidiary of IRH.

These agreements mark a direct outcome of the positive discussions held in Cairo last month, which laid the foundation for expanded cooperation between the two sides.

They also align with the Ministry’s strategic priorities—specifically the first pillar focused on ensuring the availability of petroleum products, and the third pillar aimed at maximizing returns from the mining sector.