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Egypt’s President Urges Immediate Action for Oil and Gas Development

by Krystal

President Abdel Fattah El-Sisi has urgently called for the acceleration of Egypt’s oil and gas field development to strengthen the country’s energy reserves. This comes as Egypt continues to explore new discoveries to enhance its petroleum and gas resources.

On March 16, 2025, El-Sisi met with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi to review the progress of exploration and drilling activities. The main focus of their discussions was the Faiyum 5 oil and gas field in the King Marriott area, aiming to increase Egypt’s petroleum and gas reserves.

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During the meeting, Minister Badawi presented new agreements designed to boost exploration efforts. El-Sisi stressed the need to speed up these activities and emphasized the government’s commitment to providing the resources necessary for rapid field development. “The state has provided all necessary incentives to expedite field development and increase production,” said El-Sisi through his official spokesman.

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The President’s call to action comes at a critical time as Egypt faces rising local demand for petroleum and gas. MP Magahed Nasar shared that foreign investments reached a record $7.7 billion in the 2022-2023 period, signaling growing interest in Egypt’s energy sector.

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The meeting also highlighted the importance of collaboration with Cyprus on natural gas exploration. El-Sisi and his cabinet discussed opportunities to utilize gas reserves discovered in Cyprus’ exclusive economic zone, particularly in the “Koronus” and “Aphrodite” fields. This partnership would allow the transportation of gas to Egypt, which could be used locally or processed for export.

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In addition to the Cyprus collaboration, the discussions included energy partnerships with Saudi Arabia. This builds on a Memorandum of Understanding signed earlier in February during the Egypt 2025 conference, which aims to enhance energy supply between the two countries.

Minister Badawi reassured the public about Egypt’s strategic petroleum reserves, noting that they are being strengthened to ensure energy security as summer approaches. He stressed that increasing local production is key to improving these reserves, stating, “Intensifying new exploration efforts is crucial for the state’s energy strategy.”

El-Sisi also urged oil and gas companies operating in Egypt to meet their financial obligations and resolve any outstanding debts. This will help facilitate increased production, providing incentives for further exploration and field development.

The directives outlined during this meeting reflect Egypt’s determination to become a regional energy hub. With substantial foreign investment, significant discoveries, and a competitive global market, Egypt is positioning itself to strengthen its energy sector and stabilize its economy.

In the last decade, Egypt has made significant progress in attracting foreign investment, overcoming previous energy shortages and instability. With strategic planning and enhanced government collaboration, the future of Egypt’s oil and gas sector looks promising. The country’s efforts to secure its energy needs are evolving, with a focus on comprehensive development and sustainability.

While the success of these initiatives will be judged over time, early signs show that Egypt is taking a more aggressive approach to meet its internal energy demands and position itself as a key player on the global energy stage.

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