Minister of Petroleum and Mineral Resources Karim Badawi met with a delegation from Mubadala Energy headed by its CEO Mansoor Mohamed Al Hamed to discuss potential opportunities for boosting cooperation.

During the meeting, discussions focused on Mubadala Energy’s activities in natural gas exploration and production in Egypt, particularly through its partnerships in key areas of the Mediterranean and Red Sea.

Additionally, the parties discussed the latest bid round offered by the Egyptian Natural Gas Holding Company (EGAS), which includes 12 concession areas. Mubadala expressed interest in the bid round, noting that it had reviewed the available opportunities through the Egypt Upstream Gateway (EUG).

Al Hamed affirmed that there are promising opportunities that can be built upon in light of the distinguished relations between Egypt and UAE and that Mubadala’s partnership with several international companies in gas exploration and production activities in Egypt represents a basis for expansion in other regions.

He added that dialogue and communication are open to reach new ideas for cooperation, stressing the importance of Mubadala’s participation in the Arab Petroleum Pipelines Company (SUMED), one of the most prominent successful models of Arab cooperation.

For his part, Badawi emphasized the strength of the unique relations between Egypt and the UAE, pointing out that investments in the energy, oil, and gas industries are considered one of the most important models of cooperation between the two brotherly countries, especially the investments of the Mubadala Energy Company.

He added that the petroleum and mining sectors welcome the expansion of work areas and the increase of UAE’s investments in light of the ongoing efforts to provide new investment opportunities.