Egypt and United Energy Group Forge Strategic Partnership to Expand Regional Energy Footprint
Egypt has strengthened its position in the regional energy market through a comprehensive memorandum of understanding with Hong Kong-based United Energy Group. Minister of Petroleum and Mineral Resources Eng. Karim Badawi signed the strategic framework agreement during an official visit to the UAE, establishing cooperation pathways for oil and gas exploration both within Egypt and internationally.
The MoU creates a foundation for exploring investment opportunities across the oil and gas sectors while examining possibilities for renewable energy projects and energy trading activities. UEG Chairman Song Yu emphasized the company’s commitment to expanding its investment footprint in Egypt, citing the country’s attractive investment climate and the success of their strategic partnership in Iraq’s petroleum sector.
United Energy Group, listed on the Hong Kong Stock Exchange, operates as a leading independent integrated energy company with principal engagement in upstream oil and natural gas, clean energy, and energy trading businesses across international markets. The partnership represents UEG’s confidence in Egypt’s energy sector and its potential for regional expansion.
Source: energy-pedia.com
