Egypt-UAE Establish Joint Oil Storage and Trading Free Zone

A new free zone for oil storage and trading has been established in New Alamein, Egypt, as part of a joint project between Egypt and the UAE.

The Fujairah Alamein Oil and Gas Company will operate on approximately 738,000 square meters of land, with facilities specializing in crude oil and petroleum product storage and handling.

Investment Minister Mohamed Farid stated that the rapid establishment of the company demonstrates how government approvals can be quickly converted into operational projects.

The project is part of a broader effort to establish Egypt as a regional energy hub, with the government aiming for a 20% increase in oil and gas exploration and production activity during 2026.