Minister of Petroleum and Mineral Resources Karim Badawi participated in a roundtable discussion organized by the US Chamber of Commerce in Washington coming in line with strengthening strategic relations between the two countries in the energy sector.
The roundtable, held on the sidelines of the Africa Energy Summit in Washington, reaffirms the ministry’s commitment to expanding cooperation with international partners and developing investment opportunities in the Egyptian energy sector.
During the discussion, Badawi reviewed the areas of cooperation between Egypt and US companies in the petroleum sector, praising the vital role these companies play in supporting exploration and production efforts.
He also stressed the importance of strengthening partnerships with African countries in light of current global challenges to ensure the sustainability of energy supplies, noting that Egypt serves as a key gateway for energy market integration across the continent.
Besides, Badawi reviewed the policies and incentives launched by the ministry to encourage investments in the petroleum sector. He highlighted an investment promotion policy paper issued to create a more attractive investment environment through new competitive incentives, facilitating investment regulations, enhancing partnerships with the private sector, and amending agreements to boost the economies of companies operating in Egypt.
He also pointed out the positive results of implementing production incentive packages, which have accelerated exploration and development activities, maximized the use of natural resources, and ensured stable cash flow for partners, encouraging them to invest more.
The minister expressed his aspirations for further cooperation with companies operating in Egypt, emphasizing that the success of these companies is a success for the Ministry of Petroleum and Mineral Resources (MoPMR) and the Egyptian energy sector, positively impacting the economic growth of the country.
The roundtable was attended by Moataz Atef, Undersecretary of the Ministry’s Technical Office and Official Spokesperson of the MoPMR, several American as well as international companies, including Apache Corporation, Bechtel, bp, ExxonMobil, IPR Energy Group, and other financing and investment institutions.
The efforts of the Ministry of Petroleum and Mineral Resources in the fields of exploration and field development were widely praised by all participants, with many attendees commending the intensive activities in the petroleum sector in recent months.
This has positively impacted the implementation of drilling and development plans and led to several discoveries in the Mediterranean, at the concession areas of ExxonMobil and bp.
The attendees also praised the latest edition of the Egypt Energy Show (EGYPES 2025), which witnessed the signing of expanded cooperation agreements to enhance regional integration in the energy sector.
