Minister of Petroleum and Mineral Resources, Karim Badawi, convened a high-level meeting with heads and representatives of international oil companies (IOCs) operating in Egypt. The extensive discussions took place at the ministry’s headquarters in the government district of the New Administrative Capital, with key figures from Egypt’s petroleum sector in attendance.

The meeting was a part of a series of periodic reviews, focused on evaluating the sector’s performance between July 2024 and March 2025 and outlining strategic objectives and work programs for the upcoming period.

Badawi opened the session by expressing his gratitude for the effective and successful partnership forged with international companies. He underscored the critical importance of sustained collaboration to achieve mutual successes, emphasizing that the benefits should extend to all stakeholders.

A key focus of the discussions was the direct link between increased domestic oil and gas production and Egypt’s ability to meet its citizens’ fuel demands while simultaneously reducing its substantial import bill for energy products.

Badawi highlighted the billions of dollars allocated to energy imports and the sector’s financial commitments to partners, reaffirming the state’s unwavering commitment to transparency in its dealings with international entities.

Looking ahead, Badawi emphasized Egypt’s significant untapped potential in oil and gas exploration, alongside burgeoning opportunities in energy efficiency and clean energy initiatives. He stressed that realizing this potential hinges on collaborative efforts, a unified team approach, the adoption of cutting-edge technologies, and a steadfast commitment to occupational safety, health, and environmental stewardship.

Badawi further highlighted recent encouraging discoveries in the Gulf of Suez and increased activity in the Western Desert. The minister described these as promising results that lay a foundation for future discoveries and production growth, emphasizing the significant value of each additional barrel of oil and cubic foot of natural gas.

Furthermore, Badawi outlined plans for the expansion of renewable energy projects, anticipating their positive impact in the near future.

During the meeting, senior officials from the Egyptian General Petroleum Corporation (EGPC), holding companies, and ministry undersecretaries presented updates on operational progress during the preceding period and detailed future strategies aimed at enhancing performance metrics, boosting Egypt’s oil and gas output, and expanding the country’s petrochemical industries.