The Board Directors of the Egyptian General Petroleum Corporation (EGPC) convened under the Chairmanship of the Minister of Petroleum and Mineral Resources, Karim Badawi.

The meeting focused on increasing investments in oil and gas exploration, development, and production. It also addressed occupational safety, environmental protection, securing proper financing to meet the local market’s demand, as well as the needs of Egypt’s economic sectors for petroleum products and natural gas.

Badawi said that the meeting comes within the framework of coordination and integration among state entities to increase the local production of oil and natural gas. This, according to Badawi, is pursued by offering investment incentives, intensifying research, exploration and production, as well as adopting measures to increase the production of oil and natural gas.

These measures include ensuring the timely payment of the monthly dues owed to partners, a step that generates mutual economic benefits for both Egypt and its foreign partners. Badawi also stressed the importance of securing the needed funds to cover the fuel import bill to meet the needs of the local market.

The meeting was attended by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Hassan El-Khatib, Minister of Investment and Foreign Trade; Manal Awad, Minister of Local Development; Salah Abdel Karim, CEO of the Egyptian General Petroleum Corporation (EGPC); Yasseen Mohamed, Chief Executive Officer (CEO) of the Egyptian Natural Gas Holding Company (EGAS); and Moataz Atef, the Undersecretary for the Minister’s Technical Office and Official Spokesperson of the Ministry of Petroleum and Mineral Resources.