Karim Badawi, Minister of Petroleum and Mineral Resources, met with Mathios Rigas, CEO of Energean, a London-based energy company, to discuss expanding natural gas exploration and production in the Mediterranean.

The meeting, attended by Nicholas Kacharov, Energean’s Egypt Country Manager, focused on the company’s plans to expand its activities in Egypt following the settlement of outstanding dues owed to investment partners.

Badawi said increasing domestic gas production remains a priority for the petroleum sector. He added that the government is providing incentives to encourage partners to expand exploration, develop fields and increase production, while working to address challenges facing their work programs.

The minister also called for speeding up the procedures to merge Energean’s concession areas, saying the move can lower oil and gas production costs and improve the economics of investments needed to support domestic output.

Badawi said settling partners’ outstanding dues has helped strengthen cooperation with international oil companies and could support a new phase of increased investment and petroleum activity.

In April 2025, Rigas said Energean planned to increase its investments in Egypt and explore deeper gas horizons in the Abu Qir concession in the West Nile Delta. He said integrating the company’s three concessions would reduce costs and allow it to invest more, while deeper exploration could bring additional gas to market without delay.