Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), inaugurated the Petroleum Arabian Conference and Exhibition (PACE 2026) at the American University in Cairo (AUC). Held from April 16 to 18 in cooperation with the Society of Petroleum Engineers (SPE) Egypt, the event serves as the Middle East’s largest student technical gathering, aiming to bridge the gap between academic study and the labor market for petroleum engineering students.

During a dialogue session, Badawi reported that the sector is undergoing a strategic transformation focused on science, international partnerships, and an improved investment climate. He addressed previous challenges, specifically the decline in domestic production caused by accumulated partner arrears. Badawi affirmed that MoPMR has successfully restored partner confidence by reducing arrears, committing to monthly payments, and introducing flexible contractual models, which have bolstered production rates and resumed investment flows.

Regarding exploration, the Minister highlighted the expansion of advanced seismic survey technologies in the Mediterranean Sea and the southern Western Desert. These efforts provide high-quality geological data to support discoveries, complemented by intensive drilling programs and the gradual introduction of new rigs. Furthermore, Badawi emphasized the necessity of adopting modern techniques such as horizontal drilling and hydraulic fracturing to maximize output.

On the transition front, Badawi affirmed the importance of diversifying energy sources, aiming to increase the contribution of renewables to approximately 42% by 2030. This strategy is designed to rationalize natural gas consumption in electricity generation, redirecting it toward higher value-added sectors such as exports and petrochemical industries.

The conference convened students from seven SPE chapters representing Cairo, Alexandria, Al-Azhar, and Suez universities, alongside AUC, the British University in Egypt (BUE), and Future University in Egypt (FUE).

The event is sponsored by major international players, including United Energy Group (UEG), SLB, Cheiron, and BGS Energy Services, with technical support from Apache, Baker Hughes, Weatherford, Egyptian Drilling Company (EDC), ETHYDCO, Anton Energy, TAM Oilfield Services, OPA Energy, Well Experts, EMEC, Axis Middle East Oil Services, Tatweer, and Desert World Petroleum Services.