Minister of Petroleum and Mineral Resources Karim Badawi has met with Sameh Sabry, Senior Vice President and Managing Director of Wintershall Dea for the Middle East and North Africa region, who will be the Vice President for British Harbour Energy after its acquisition of Wintershall Dea concession areas in the Mediterranean and Nile Delta at Egypt.

The meeting touched on the initiative recently launched by Minister Badawi to implement a new package of incentives for foreign partners to increase production. The company’s vice president commended the transparency and proactive approach in seeking positive solutions to the challenges faced by international companies operating in Egypt.

During the meeting, Badawi emphasized the Egyptian government’s genuine commitment and consensus to implement practical solutions that positively contribute to overcoming the challenges faced by partners’ investments, particularly regarding the payment of dues.

He also underscored the oil and gas sector’s strong support for foreign companies’ efforts to intensify research and exploration activities, aiming to achieve new discoveries that boost production and reserves.

The Minister expressed his hope for continued success with the British company Harbour Energy, similar to the achievements made by the German company Wintershall Dea in the Egyptian petroleum sector over the past years.

Badawi referred to the promising investment opportunities offered by the Egypt Upstream Gateway (EUG) in digital form for quick and easy access to comprehensive geological data for companies wishing to work in the field of oil and gas in Egypt to make investment decisions.

Meanwhile, Sabry confirmed that the British company’s strategy is to significantly expand its oil and gas operations in Egypt, with a strong emphasis on reducing harmful emissions and prioritizing sustainability.

Sabry stated that the investment opportunities available in the field of oil and gas in Egypt are being evaluated to determine the best new projects, in parallel with efforts to maintain and increase production levels from existing projects.