Egypt’s President Abdel Fattah El Sisi necessitated settling the dues of oil and gas companies operating in Egypt and honoring the state’s obligations toward them, in a manner that contributes to increasing domestic oil and gas production.
He also stressed the importance of providing incentives to accelerate and intensify field development, production operations and new exploration activities.
This came during a meeting on Saturday between President Sisi, Prime Minister Moustafa Madbouli and Minister of Petroleum and Mineral Resources Karim Badawi.
Sisi asserted the need to intensify efforts to expand exploration activities and capitalize on successful experiences, underlining the importance of offering further incentives and facilitation measures to investors in the oil, gas and mining sectors.
He said that these steps would help boost investment volumes and increase production to meet Egypt’s growing consumption and development needs.
Presidential Spokesman Mohamed el Shennawy said that the meeting reviewed a number of key files related to the work of the Ministry of Petroleum and Mineral Resources.
These included efforts to implement Egypt’s strategy to become a regional energy hub and a regional center for gas trading, developments in offshore and aerial seismic survey activities and initiatives to expand onshore and offshore oil and gas exploration, the spokesman said.
The discussions also covered plans to diversify gas supply sources and the incentive packages offered to exploration companies, with the aim of making Egypt one of the most attractive destinations for investment in this sector, the spokesman added.
The spokesman added that the meeting also addressed government efforts and coordination between the Ministry of Petroleum and Mineral Resources and the Ministry of Electricity and Renewable Energy to secure Egypt’s gas needs, particularly during the summer of 2026.
During the meeting, the president also followed up on developments in Egypt’s mining sector, including geological reserves and investment indicators in this vital field.
In this regard, Badawi said that Egypt is set to launch, during the first quarter of this year, its first comprehensive aerial survey of mineral resources in 40 years.
The survey aims to update geological data and establish a large database to attract Arab and international mining investments, Badawi said.
The meeting also reviewed a new package of incentives targeting international exploration companies, along with measures to streamline licensing procedures, building on Egypt’s rich geological potential and its integrated infrastructure, according to the spokesman.
