Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Moustafa Madbouly and Minister of Petroleum and Mineral Resources Engineer Karim Badawi.
The Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the Minister of Petroleum and Mineral Resources reviewed the latest developments in the mining sector, as well as mechanisms for attracting and stimulating foreign investments in this vital sector. He also presented the outcomes of his participation in the International Mining and Resources Conference held in Australia this month.
The Minister of Petroleum and Mineral Resources also reviewed the main pillars of the Ministry’s strategy during the current phase. This includes the status of discoveries, agreements, and the status of implementing ongoing related projects, in addition to the volume of crude oil and natural gas production during the period from July 2024 to August 2025. The presentation also addressed proposed methods for enhancing local production of petroleum and gas resources, as well as the development of infrastructure implemented to ensure the availability of necessary gas quantities to meet local market needs.
The spokesman added that the minister also reviewed the progress in implementing the strategy to transform Egypt into a regional energy hub. This is in addition to presenting the pillars of the Integrated and Sustainable Energy Strategy up to the year 2040. The minister discussed efforts to attract more international companies to invest in the petroleum and gas sectors, pointing to the positive developments in the activities of these companies in Egypt during the current period. This reflects growing confidence in Egypt’s investment climate and the promising opportunities and substantial potential the country holds in the oil and gas sectors.
President El-Sisi stressed the importance of providing further incentives and facilitations for investors to help boost investment in the petroleum sector and increase production to meet growing consumption and development needs.
The meeting also addressed the status of settling dues owed to foreign companies operating in Egypt. President El-Sisi emphasized the necessity of paying the dues of these companies and fully honoring all commitments to them, as this enhances the state’s credibility and reinforces trust in the investment climate.
At the conclusion of the meeting, President El-Sisi gave directives to continue the development of newly discovered wells and listing them on the production map, while intensifying exploration and search activities to further enhance Egypt’s position as a regional energy hub.
Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
