Prime Minister Mostafa Madbouly met with Karim Badawi, the Minister of Petroleum and Mineral Resources (MoPMR), to follow up on a number of the Ministry’s work files, the executive status of ongoing projects, and exploration efforts during the current period.

At the beginning of the meeting, Madbouly emphasized the state’s interest in the petroleum sector and its keenness to provide more incentives and facilitations to investors. These incentives aim to attract more investments, ultimately increasing production volume and meeting diverse consumption and development needs.

Madbouly noted that President Abdel Fattah El-Sisi directed the government to continue developing newly discovered wells and to integrate them in the production map, while also intensifying research and exploration activities in the land and sea areas of Egypt.

The meeting focused on the Ministry’s efforts to secure the state’s petroleum needs. It also reviewed the initiatives to boost local production of petroleum resources and natural gas, along with the status of payments to international companies.

During the meeting, Badawi reviewed MoPMR’s efforts and preparations for the summer. He also presented the status of the strategic reserve of petroleum products to ensure citizens’ needs are met. Furthermore, Badawi noted that the anticipated increase in local production during the coming period will boost both the reserve and strategic stock.

Additionally, the Minister affirmed that the petroleum sector is working hand-in-hand with its strategic partners to accelerate the pace of research and exploration, as well as streamline procedures to optimally utilize Egypt’s potential, with the goal of increasing production rates and fulfilling domestic energy needs.