Minister of Petroleum and Mineral Resources Karim Badawi held high-level talks with senior executives from SLB, Baker Hughes, Weatherford, Halliburton, National Energy Services Reunited Corporation (NESR), and EXPRO in Egypt to establish a new technical framework for doubling Egypt’s domestic crude oil production over the next five years.

The discussions focused on creating a dedicated contractual and technical mechanism between the Egyptian General Petroleum Corporation (EGPC) and international partners. This initiative aims to deploy advanced drilling and field development technologies, specifically horizontal drilling, to revitalize mature fields and accelerate the development of discoveries.

Badawi directed that the executive details of this mechanism be finalized by the end of February. The framework will allow for more flexible contracting models, encouraging international partners to inject fresh capital into Research and Development (R&D) specifically tailored to the unique geological challenges of the Egyptian petroleum industry.

During the meeting, the Minister emphasized that the sector has transitioned from a period of declining indices to a phase of production stability, bolstered by recent investment incentives. He further noted that the Ministry is proceeding with a clear plan to settle outstanding arrears to international partners, shifting the focus toward a more advanced stage of operational growth.

Representatives from the three companies reaffirmed their commitment to supporting Egypt’s ambitious five-year plan. They pledged to provide integrated technological solutions and operational expertise to ensure the steady increase of production rates across both onshore and offshore assets.