Fleet Energy and EPROM Sign Major Oil Project Operation Deal to Boost Global Trade
With $500 Million Investment
Amid the secure and stable climate that Egypt enjoys under the leadership of President Abdel Fattah El-Sisi, the country continues to strengthen its position as an attractive investment hub for major international companies.
With $500 Million Investment
Egypt is steadily consolidating its ambitious vision to transform into a regional and global hub for energy and logistics services.
In this context, a landmark agreement was signed in Northeast Port Said between Fleet Energy of the UAE, headed by Mr. Ahmed Kafafi, and Egypt’s EBRoM, chaired by Eng. Hossam Asaad.
The contract covers the operation and maintenance of a strategic oil project, the first of its kind in the region.
A Fully Integrated Oil Port and Terminal
The project comprises a dedicated port, a marine berth, and a fully integrated tank farm designed to receive, store, blend, and re-export petroleum products.
It will be developed in line with the latest international standards for safety, occupational health, and environmental protection.
The facility will cover 289,000 square meters, with an impressive storage capacity of 620,000 cubic meters.
Major Investment and Job Opportunities
The project represents an investment of $500 million, underscoring investor confidence in Egypt’s market and its stable investment environment.
It is expected to create around 2,000 indirect job opportunities during the construction phase, in addition to 1,000 direct jobs once operational — a significant boost to the government’s efforts to provide employment opportunities for Egyptian youth.
A Strategic Location at the Crossroads of Continents
Situated in Northeast Port Said along the Suez Canal axis, the project is strategically located at the crossroads of Asia, Africa, and Europe.
This prime location grants the facility exceptional value, as it will provide a strategic reserve of petroleum products for the region while reinforcing Egypt’s role as a global hub for energy and logistics.
Oversight and International Expertise
The project benefits from the oversight of Dr. Gamal El-Quraysh, former Chairman of Assiut Oil Refining Company and MIDOR, bringing with him decades of industry expertise.
Dr. Mamdouh Hamza also joins as the chief consultant, alongside Mr. Ahmed Kafafi, Vice Chairman of Fleet Energy.
Additionally, Wood Mackenzie conducted the technical studies, while Synergy serves as the financial advisor, ensuring implementation that meets the highest international standards.
A Strategic Asset for Egypt
Beyond its scale as a major investment, the project represents a strategic addition to Egypt’s global energy footprint.
It supports the government’s plans to reinforce the Suez Canal as a vital corridor for global energy flows, expands Egypt’s re-export capacity, and enhances the efficiency of storage and transportation networks.
By doing so, the project adds a critical building block in Egypt’s journey to becoming a world-class hub for energy and logistics.
The agreement between Fleet Energy and EBRoM reflects the growing confidence of international investors in Egypt’s ability to provide a safe, stable, and attractive investment environment — one capable of absorbing large-scale projects and translating them into tangible ventures that deliver sustainable development and strengthen the national economy.
