ENERGY-

Egypt has secured gas supplies to all sectors through four floating storage and regasification units this summer with a combined capacity of 2.7 bcf/d, the Oil Ministry said in a statement. The move comes as part of the plan to enhance the country’s gas infrastructure and ensure stable supplies to the electricity sector and energy-intensive industries.

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The lineup includes the soon-to-be replaced Hoegh Galleon, already stationed at Ain Sokhna since last year, the recently arrived Energos Eskimo and Energos Power, which will be moored at the SUMED and Sonker terminals in Sokhna, alongside Winter, likely the unnamed Turkish vessel, which will operate at the United Gas Derivatives Company berth in Damietta.

We are also working with Jordan to add a fifth vessel to the lineup: The Energos Force, currently en route to Damietta, will dock at the port of Aqaba and will be connected to the Arab Gas Pipeline by the end of July. The unit will provide an additional 750 mcf/d of regasification capacity that can be shared between the two countries in the event of an emergency.

#2- Firms compete for North July oil concession: Three energy firms — UAE’s Dragon Oil, drilling giant Ades Holding, and local energy player Cheiron — are vying for the North July oil field concession, located northeast of the Gulf of Suez, a government official told Asharq Business. The field is located near the Gulf of Suez Petroleum Company’s production facilities.

IN CONTEXT- The Oil Ministry has just closed its latest bidding round for upstream concessions in the Mediterranean, Gulf of Suez, and Western Desert through the Egypt Upstream Gateway. The round included blocks under the jurisdiction of EGAS (Rahmat), EGPC (North July), and GANOPE (North El Baraka, East Gabal El Zeit, and Southeast Ras El Ash), according to a statement. The ministry is expected to announce award results in August.

DATA POINT- Egypt aims to grow oil production by 8% y-o-y in the fiscal year 2025-2026 to reach 485k bbl/d, another government official told Asharq Business.

MANUFACTURING-

Digitize’s board approved a partnership with China’s Inspur for a USD 50 mn manufacturing project, which would see the company locally produce advanced communication devices and implement fiber optic projects, the tech-focused direct investment firm said in an EGX disclosure (pdf).

NBFS-

FRA ups expat ins. coverage 150%: Egyptians working abroad can now access accident ins. coverage of up to EGP 250k — up from EGP 100k — under an expanded personal accident policy developed by the Financial Regulatory Authority (FRA) in coordination with the Foreign Ministry, according to a statement from the regulator.

How it works: The policy offers financial compensation in cases of natural or accidental death or permanent disability while abroad. It also covers repatriation costs up to EGP 250k, or the equivalent cost of repatriation if burial takes place overseas.

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