Today, President Abdel Fattah El-Sisi met with Prime Minister, Dr. Moustafa Madbouly, and Minister of Petroleum and Mineral Resources, Eng. Karim Badawi.
Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the Minister of Petroleum and Mineral Resources offered an overview of the ministry’s key pillars for current operations and activities. Those include focusing on production and exploration activities; leveraging petroleum resources through refineries and petrochemical plants to create added value; achieving a breakthrough in the mining sector and boosting its added value; and strengthening regional cooperation to attract investments to Egypt in the oil and gas sectors, while maintaining safety, energy efficiency, and reducing emissions. He confirmed that the ministry seeks to collaborate with the Ministry of Electricity and Renewable Energy as one team in order to provide an energy mix to drive the growth of the Egyptian economy and leverage Egypt’s strategic location for the production of hydrogen and energy trade.
The meeting also discussed the state’s efforts to secure citizens’ needs for petroleum products and to supply various state sectors, primarily the electricity sector, with natural gas. It also focused on the latest developments in exploration activities and added petroleum reserves. Minister Badawi reviewed the main achievements from July 2024 to June 2025, including an increase in added domestic oil and gas production, and the petroleum sector’s success in overcoming the natural decline in natural gas production. Moreover, the discussion covered research and exploration activities and their remarkable expansion.
The Ministry of Petroleum and Mineral Resources’ efforts, in cooperation with other relevant state authorities, to reduce outstanding dues to foreign partners were also tackled during the meeting. This included commitment to monthly invoice payments and encouraging partners to accelerate the pace of production and exploration.
Furthermore, the President was updated on ongoing efforts to develop the gas sector’s infrastructure through the acquisition of floating regasification units. These units have increased regasification capacity from 1,000 to 2,250 million cubic feet per day, ensuring the flexibility and continuity of gas supplies to all sectors and addressing any emergency disruptions in the supply mix.
Other issues discussed in the meeting included cooperation with Cyprus to diversify gas supplies and activate the strategy for the regional gas trading hub as well as efforts to achieve a breakthrough in the mining sector through transforming the Mineral Resources Authority into an effective economic entity; signing mineral exploitation agreements with international companies; launching mineral value-added industries; and attracting national capital into investments for mineral processing and extraction.
President El-Sisi underscored the need to further strengthen the State’s efforts to create a conducive investment environment for both foreign and national capital to boost domestic oil and gas production in order to meet development needs, reduce the import bill, and alleviate burdens on citizens. The President stressed the crucial need to focus on developing new discoveries, accelerating their integration into production, expanding research and exploration programs, and offering additional incentives to achieve further growth in the petroleum and mineral resources sectors.
Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
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