Egypt showcased its efforts to provide an attractive investment environment in the oil and gas sector at the African Energy Week (AEW) held in Cape Town, South Africa.

The event, held under the slogan “Investing in African Energy: Enabling Africa to Lead the Global Energy Transition,” serves as an important platform for discussing increased investment and attracting financing to the African continent, drawing over 6,000 participants, including senior government officials and global energy industry leaders.

Established in 2021, with the mission of “making energy poverty history by 2030”, the African Energy Week (AEW) is a prominent annual energy event hosted by the African Energy Chamber.

In his speech,  Ehab Ragaee, First Undersecretary for Production Affairs at the Ministry of Petroleum and Mineral Resources (MoPMR), reviewed Egypt’s efforts to create a competitive investment climate, built on legislative reforms,  investment incentives for international partners, and strengthening partnerships with the private sector.

Ragaee affirmed that Egypt’s unique strategic location, distinguished infrastructure, and ongoing developments for the oil and gas sector qualify it to play a central role as a regional hub for energy trade.

He further elaborated on the Egyptian petroleum sector’s strategy, which focuses on several pillars, including expanding oil and gas exploration and production activities, maximizing infrastructure utilization and value addition through natural gas liquefaction (LNG) projects and the petrochemical industry, and raising the contribution of renewable energy to the energy mix to 42% by 2030.

Ragaee concluded by emphasizing Egypt’s commitment to working with African nations and international partners to achieve Africa Agenda 2063 and the Sustainable Development Goals (SDGs), particularly ensuring access to clean, safe, and affordable energy for all.