Geothermal

A joint committee has been formed between the Ministry of Petroleum and Mineral Resources
represented by Ganope and the Ministry of Electricity and Energy represented by the Egyptian
New and Renewable Energy
Authority (NREA).

The aim of this committee is to prepare the roadmap needed
to start implementing the use of geothermal energy.

The work of the committee has resulted in assigning a preliminary
economic study for the areas of Hammam Pharaon and Aoun
Musa to “Enjaz Project Management” Company through “MOU” in cooperation with the American BlackRock Company to execute the project and to promote project funding when it is found to be economically feasible.