President Abdel Fattah El-Sisi met with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi to discuss the latest developments in Egypt’s oil and gas sector. The meeting focused on exploration and drilling activities, particularly in the Fayoum 5 oil and gas field in the King Mariout area, as part of efforts to boost the country’s energy reserves.
During the discussions, Minister Badawi highlighted recent agreements aimed at expanding exploration operations. He emphasized the importance of accelerating field development, increasing production, and attracting foreign investment to meet the rising demand for oil and gas in Egypt.
Government Commitment to Energy Security
Presidential Spokesman Ambassador Mohamed El-Shennawy stated that El-Sisi urged officials to make every effort to enhance exploration activities. He stressed that the government is providing necessary incentives to facilitate operations, ensuring rapid field development and increased production.
With summer approaching, Badawi also reviewed Egypt’s strategic petroleum reserves. He assured that increasing local production in the coming months will help strengthen the country’s energy security and meet citizens’ needs.
Regional Cooperation in Natural Gas
The meeting also addressed Egypt’s energy partnerships with neighboring countries. Officials discussed ongoing cooperation with Cyprus, particularly regarding the development of natural gas fields in Cyprus’ exclusive economic zone, including the Kronos and Aphrodite fields. Plans are underway to transport Cypriot gas to Egypt, where it can either be used domestically or processed at Egyptian liquefaction facilities for export.
Additionally, the discussions covered energy collaboration between Egypt and Saudi Arabia. This follows the memorandum of understanding (MoU) signed between the two countries on the sidelines of the EGYPES 2025 conference.
Support for Oil and Gas Companies
El-Sisi instructed the government to continue settling financial obligations to oil and gas companies operating in Egypt. Ensuring timely payments, he noted, will help increase production, accelerate field development, and encourage further exploration activities.
The meeting reaffirmed Egypt’s commitment to strengthening its energy sector by fostering investment, boosting production, and enhancing regional cooperation.
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