French Ambassador to Egypt, Éric Chevallier, praised Egypt’s climate investment initiatives and emphasized that French companies are keen to increase their investments in the country.

This statement was made during his meeting with Minister of Petroleum and Mineral Resources, Karim Badawi, where they discussed areas of cooperation and the status of collaborations with French companies, including TotalEnergies and Axens.

Chevallier expressed his appreciation for the ongoing cooperation, reaffirming his commitment to providing full support to further enhance it. He emphasized his backing for the continued collaboration between the Ministry and the French Development Agency on various projects, including delivering natural gas to homes, improving production efficiency, reducing expenditures, enhancing energy efficiency, decarbonization, carbon capture and storage (CCS), emission reduction, flare gas recovery, and other development and restructuring initiatives.

The meeting also addressed the latest developments in the exploitation of mineral resources and Egypt’s shift towards renewable energy and green projects.

Minister Badawi highlighted that the cooperation between Egypt and France is reinforced by their historical ties and the political leadership of both countries. He noted that this partnership is being leveraged to increase French involvement in petroleum production projects, particularly in the field of exploration.