Prime Minister Mostafa Madbouly met with Karim Badawi, Minister of Petroleum and Mineral Resources, to review key ministry files, including recent international engagements, investment developments, and plans to boost Egypt’s energy production. Badawi summarized outcomes of his recent visits to the United States (US), Russia, and Jordan.
In the US, Badawi led Egypt’s delegation at the Tenth Ministerial Meeting of the East Mediterranean Gas Forum (EMGF), themed “Regional and International Challenges and the Future of the East Mediterranean Gas Forum,” underscoring Egypt’s commitment to regional and international energy cooperation. He held bilateral meetings with counterparts from participating countries and international energy and mining officials, focusing on cooperation in petroleum and natural gas, increasing investments, and expanding partnerships.
Also during his US visit, Badawi participated in the opening of the US–Gulf Energy Infrastructure Summit, organized by the Atlantic Council’s Global Energy Center and the US Department of Energy. Discussions focused on improving global energy market reliability, mitigating geopolitical risks, strengthening infrastructure and regional connectivity, diversifying export routes, expanding pipelines, developing alternative transport corridors, and promoting financing mechanisms and public-private partnerships for major infrastructure and liquefied natural gas (LNG) investments.
At the St. Petersburg International Economic Forum in Russia, Badawi presented Egypt’s energy and mining strategy, highlighting efforts to boost oil and gas production, strengthen energy security, and reinforce Egypt’s role as a regional energy hub.
In Jordan, discussions focused on expanding energy cooperation, especially in natural gas and infrastructure. Badawi said Egyptian petroleum companies have developed the expertise to execute projects abroad, supporting regional integration.
The meeting also reviewed efforts to expand drilling and exploration. Badawi noted that 2026 will see over 100 new oil and gas exploration wells drilled, along with production wells to increase output from existing and discovered fields.
Badawi attributed this momentum to increased investor confidence following the government’s settlement of partner dues and new investment incentives in the petroleum sector. He emphasized that international investment in exploration remains key to boosting domestic oil and gas production, noting that these efforts are complemented by initiatives to improve mature-field productivity through modern technology and ongoing coordination with the Ministry of Investment and Foreign Trade.
The push to drill more than 100 new wells comes as Egypt accelerates its long-term upstream strategy, which aims to drill 586 exploration wells by 2030, backed by an estimated $7.2 billion investment pipeline. This exploration campaign was supported by settling the foreign partners’ arrears in June 2026.
