Egypt set to launch 1st oil shale project

Egypt’s New Valley for Mineral Resources and Oil Clay (Wadico), a subsidiary of the Ministry of Petroleum and Mineral Resources, on Wednesday signed a strategic cooperation agreement with international mining firm BCM Group to launch the country’s first oil shale exploration and production project.

This landmark agreement, signed on the sidelines of the Egypt Mining Forum 2025, comes as part of Egypt’s broader efforts to expand the mining sector and tap into alternative energy sources.

The partnership will focus on exploration, mining, and production of oil shale both within Egypt and across regional and international markets. WadiCo reaffirmed its commitment to advancing both economic and environmental sustainability and to attracting investment in non-traditional resources.

WadiCo said the agreement marks a turning point in exchanging technical and geological expertise with one of the sector’s global leaders. The project is expected to pave the way for the use of oil shale as an alternative energy source — including for power generation and as a sustainable fuel for cement factories — helping Egypt diversify its energy mix.

The move is expected to open new markets and drive the development of advanced technologies for oil shale use, in line with the state’s strategy to maximise returns from mineral resources and create real added value for the national economy.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama