Minister of Petroleum and Mineral Resources Karim Badawi met with ambassadors at the Ministry of Foreign Affairs’ headquarters, where he stressed his full commitment to collaborating with them to attract foreign and expatriate Egyptian investors, as well as open new avenues for Egyptian companies to expand internationally.

Badawi reviewed the Ministry’s ongoing efforts to stimulate investment and growth in the petroleum, gas, and mining sectors, enabling diplomats to present an attractive image of Egypt’s investment climate.

The Minister also affirmed that the Ministry’s investment stimulation measures have already restored the confidence of investors and halted the decline in production.

Badawi further emphasized the government’s commitment to diversifying energy sources, particularly natural gas, to meet the rising demand during the summer, highlighting the operational Floating Storage Regasification Units (FSRUs) that supplement domestic production.

The Minister further highlighted the successful experiences of leading Egyptian companies such as the Petroleum Projects and Technical Consultations Company (Petrojet) and the Engineering for the Petroleum and Process Industries (ENPPI), which possess potential to compete globally.

Additionally, Badawi highlighted the significance of the Egypt Upstream Gateway (EUG), which consistently presents available investment opportunities within the oil and gas exploration and production sector.

At the conclusion of the meeting, Badawi outlined the Ministry’s current strategy, based on the six main pillars, and underscored the crucial importance of integrated, effective cooperation among the Ministry of Petroleum and Mineral Resources, the Ministry of Electricity and Renewable Energy, and investment partners to overcome challenges in the energy sector.