On the sidelines of his visit to the UK, Karim Badawi Minister of Petroleum and Mineral Resources, held a meeting with the Carlyle Group, where they discussed the company’s plans for investing in Egypt and expanding its field’s exploration and development activities.

The meeting was held with Tony Hayward, the company’s chairman, in the presence of Moataz Atef, Undersecretary of the Ministry for the Minister’s Office, Technical Office Affairs and the official spokesperson for the Ministry.

This follows Carlyle’s recent agreement to acquire a portfolio of natural gas exploration and production (E&P) assets from Energean in the East Mediterranean region. This portfolio includes the Abu Qir field, one of Egypt’s major natural gas production areas.

This meeting takes place against the backdrop of the Ministry of Petroleum and Mineral Resources’ efforts to accelerate production by offering a range of investment incentives for exploration, production, and research companies, as well as the company’s global vision for expanding its activities in Egypt.