President Abdel Fattah El-Sisi held a meeting with Prime Minister Mostafa Madbouly, Minister of Petroleum and Mineral Resources, Karim Badawi, Minister of Finance Ahmed Kouchouk, and Governor of the Central Bank of Egypt (CBE), Hassan Abdallah to discuss efforts to ensure the availability of the state’s petroleum products needs.

The discussion focused on securing the necessary funding to sustain efficient operations in the petroleum sector. It also reviewed ongoing efforts to enhance domestic production of petroleum and gas resources.

El-Sisi highlighted the importance of continuing the development of newly discovered wells and including them in the production plan, as well as intensifying exploration activities in Egypt’s onshore and offshore areas.

The meeting also addressed current developments in the petroleum and gas sector, with particular emphasis on strengthening partnerships between the government, international companies, and domestic investors. The meeting also evaluated the outcomes of initiatives aimed at attracting private sector investment in this crucial domain.

The discussions further covered steps taken to expand regional cooperation in the fields of petroleum and gas in the coming phase and open new prospects for collaboration and investment in this area.

El-Sisi underlined the need to regularly pay financial dues to companies contracting with the state in the oil and gas sector.

Additionally, El-Sisi pointed out the need to intensify government efforts to meet citizens’ needs in various sectors, as well as advancing efforts aimed at boosting economic growth and national income so as to contribute to building a strong and investment-attractive economy.