Egypt’s President Abdel Fattah El Sisi met on Tuesday Prime Minister Moustafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi.
During the meeting, Minister Badawi reviewed the main areas of the ministry’s work and activities at the present stage, including focusing on production and exploration activities, maximising the use of petroleum resources through refineries and petrochemical plants, said Presidency Spokesman Mohamed el-Shennawy.
The chief aims are achieving a breakthrough in the mining sector and maximising its added value, boosting regional co-operation to attract investments to petroleum and gas sectors while maintaining safety and energy efficiency, reducing emissions, and working as a team with the Ministry of Electricity and Renewable Energy to provide an energy mix that will drive the growth of the national economy, taking advantage of the Egypt’s strategic location for hydrogen production and energy trade.
The meeting addressed the state’s efforts to secure citizens’ needs from petroleum products and to supply various state sectors primarily the electricity sector with natural gas, the spokesman added.
The meeting also discussed the latest developments in exploration activities and additional petroleum reserves, and expansions. Minister Badawi reviewed the main results achieved over the period July 2024 to June 2025, the rise in added local production of petroleum and natural gas.
The minister highlighted the success of the petroleum sector in overcoming the decline in natural gas production.
In addition, the meeting reviewed the ministry’s efforts, in co-operation with other relevant state agencies, to reduce the outstanding dues to foreign partners, and to carry on with developing the gas sector’s infrastructure through bringing in floating liquefaction units. This has increased the liquefaction capacity from 1,000 to 2,250 million cubic feet per day, Spokesman Mohamed el-Shennawy added.
Co-operation with Cyprus to diversify gas supplies and activate the regional gas trading hub strategy also featured high on the meeting agenda.
The meeting reviewed the ongoing 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 value-added mining industries, and attracting national capital to invest in mineral manufacturing and extraction.
President Sisi emphasised the importance of maintaining efforts to develop an attractive investment environment for foreign and domestic capital, to support local oil and gas production for development, as well as reducing imports and easing the burden on citizens, the presidency spokesman said.
The president also stressed the need to focus on developing new discoveries and accelerating their integration into production, bolstering research and exploration programmes, and providing more incentives to achieve further growth in the oil and mineral wealth sectors, El-Shennawy noted.
