Minister of Petroleum and Mineral Resources Karim Badawi met with Energean CEO Mathios Rigas and Energean’s Egypt Country Manager Nicolas Katcharov, where they discussed the opportunities of cooperation in the fields of energy and sustainable development.

Talks also focused on the possibility of opening new horizons for investment and partnership between the two sides during the coming period.

The meeting witnessed a review of the Egyptian-Greek efforts between the Ministries of Petroleum and Energy in the two countries to achieve sustainable development in the Eastern Mediterranean region through cooperation, innovation and adoption of modern technology used in the field of carbon capture and storage (CCS).

Additionally, the meeting discussed the steps of the ongoing work between the two countries’ work teams to prepare for signing a cooperation agreement during Q1 of 2025 in the field of sustainable development and the application of CCS technology.

Furthermore, the Greek company reviewed the developments in the process of transferring its investment assets for gas exploration and production in Egypt in the Mediterranean to the global investment firm Carlyle. It stressed its aspiration to open new opportunities for cooperation and partnership with the Egyptian oil and gas sector, and to continue consultations in this field.