Al Hamra Petroleum Port supports Egypt to become regional energy hub: Badawi

Updated 9/15/2025 2:21:00 PM

Arab Finance: Al Hamra Petroleum Port has received and handled approximately 74 million barrels of crude oil during fiscal year (FY) 2024/2025, Ibrahim Masoud, Chairman of the Western Desert Petroleum Company (WEPCO) said.

His remarks came during the general assembly meetings of WEPCO, which operates the Al Hamra Petroleum Port in El Alamein, and Badr Petroleum Company, attended by Minister of Petroleum and Mineral Resources Karim Badawi, to approve the results of FY 2024/2025.

Masoud also outlined the status of the northern expansions being implemented by Petrojet. This is in addition to the planned southern expansions with a storage capacity of up to 130,000 tons, serving El Alamein City and the Northwest Coast.

Al Hamra Petroleum Port is a strategic pillar for attracting investments and supporting Egypt's plans to become a regional energy hub, Badawi stated.

During the WEPCO’s assembly meeting, Badawi affirmed that the Al Hamra Petroleum Port has become a regional platform for attracting foreign investment and a fundamental pillar in Egypt's plans to transform into a regional center for energy trade.

The minister urged accelerating the development of the port in cooperation with UAE partners at the Port of Fujairah, leveraging their expertise and successful experiences to position it among the world's leading ports specializing in energy trade and circulation on the Mediterranean coast.

During the Badr Petroleum’s assembly meeting, Badawi lauded the company’s efforts in increasing the production rates. He affirmed the ministry's and the Egyptian General Petroleum Corporation's (EGPC) readiness to provide all forms of support to expedite the commissioning of discovered wells.

Salah Abdel Karim, Chairman of the EGPC, mentioned that Badr Petroleum ranked first among the top five companies that achieved increased production this year.

Masoud also announced a qualitative leap in production rates in the Badr-1 concession area, with the implementation rate reaching 143% of the target plan and a total daily production equivalent to 6,440 barrels of oil equivalent.

Two exploratory wells and two development wells were drilled, contributing to expanding production capacity, he underlined. Adding new proven reserves was estimated at nearly 10 million barrels of oil equivalent.