Egypt: President El-Sisi Meets Prime Minister and Minister of Petroleum and Mineral Resources
Today, President Abdel Fattah El-Sisi met with Prime Minister Dr. Mostafa Madbouly, and Minister of Petroleum and Mineral Resources Eng. Karim Badawi.
Spokesman for the Presidency Ambassador Mohamed El-Shennawy, stated that the meeting discussed the strategic plan and the main axes of the Ministry of Petroleum and Mineral Resources’ work during the current phase. The meeting focused on the Ministry’s work related to production and exploration activities, and efforts to enhance the mining sector and increase its added value. In this context, Eng. Karim Badawi offered a presentation of the Ministry’s plan for exploration drilling activities during the period from 2026 until 2030.
The Minister of Petroleum and Mineral Resources reviewed the developments in the mining sector in Egypt. He highlighted the sector’s success components, the size of the geological reserve, and investment indicators, as well as the challenges facing the sector and the measures taken to overcome them in line with the development strategy. This includes the issuance of a law to convert the Mineral Resources Authority into an economic public authority, building a competitive model to attract investors from major and emerging companies, and addressing related financial and investment challenges.
The meeting also touched on efforts to expand the onshore and offshore oil and gas exploration operations, including incentives directed at exploration companies, with the aim of making Egypt one of the most attractive countries for investments in this field.
The President gave directives to intensify efforts to expand exploration activities and benefit from successful experiences. The Minister of Petroleum reviewed the exploratory drilling activities in the Mediterranean Sea during 2026, including the expected number of wells to be drilled, the investment cost, the size of the expected oil and gas reserves, production rates, in addition to the expected annual savings in the import bill. The Minister also evaluated the developments in seismic survey activities for 2025 and those planned for 2026, along with natural gas production rates from July 2024 to October 2025, including the plan to diversify gas supply sources.
During the meeting, the Minister of Petroleum and Mineral Resources offered a report on his recent participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC). This participation is part of the framework of strengthening Egypt’s active presence in global energy forums and promoting available investment opportunities in the Egyptian market to major international companies. He pointed out that his meetings and interventions during the conference underscored the priorities and key pillars of the energy sector in Egypt, while emphasizing the importance of regional cooperation as a key to ensuring energy security.
President El-Sisi reiterated the necessity to provide more incentives and facilitations for investors in the oil, gas, and mining sectors. This would contribute to boosting the volume of investments and increasing production to meet the growing consumption and development needs, while continuing efforts to localize the industries associated with these vital sectors.
Distributed by APO Group on behalf of Presidency of the Arab Republic of Egypt.
