Karim Badawi, Minister of Petroleum and Mineral Resources, met with John J. Christmann IV, Apache Corporation CEO, and several company executives to discuss Apache’s recent discoveries in Egypt’s Western Desert through Khalda Petroleum Company, which recorded initial production of 40 million cubic feet (mmcf) of natural gas per day.
Italian Eni and French TotalEnergies have reached the Final Investment Decision (FID) to develop Cronos project, in deep waters offshore Cyprus, with the target to bring the first Cypriot gas to market in 2028.
The project, operated by Eni, will bring to production the gas volumes from Cronos field, in Block 6, which holds more than 3 trillion cubic feet (tcf) of gas initially in place (GIIP). Production is expected to reach a plateau of 500 million cubic feet per day (mmcf/d), equivalent to around 2.8 million tons of per year (mmt/y) of liquefied natural gas (LNG).
Karim Badawi, Minister of Petroleum and Mineral Resources, met with Deng Zhaojing, General Manager of China National Chemical Engineering Group (CNCEC), and the accompanying delegation to discuss accelerating several local strategic projects, especially the Soda Ash production project in New Alamein and the Red Sea National Petrochemicals Company complex in the Suez Canal Economic Zone (SCZONE).
Egypt and the UK discussed expanding cooperation in renewable energy, grid modernization, battery energy storage, and increasing British investments to support Egypt's energy transition and renewable energy targets.
Karim Badawi, Minister of Petroleum and Mineral Resources, confirmed the ministry’s success in fully securing the local market’s needs for natural gas during the recent peak consumption period, which coincided with the sharp rise in temperatures. This ensured the stability of fuel supplies across all sectors, foremost among them the electricity sector.
Amid rising Red Sea shipping risks, Saudi Aramco is expanding crude exports through Egypt's Sidi Kerir terminal, highlighting the strategic role of the SUMED Pipeline in maintaining reliable access to global markets.
As part of the Ministry of Petroleum and Mineral Resources' strategy to increase domestic natural gas production, maximize the use of existing infrastructure, and reduce reliance on imports, it is working with bp to bring the “Fayoum North-4” well in the Mediterranean Sea into production soon. The well is expected to produce approximately 80 million cubic feet of natural gas per day.
Karim Badawi, Minister of Petroleum and Mineral Resources (MoPMR), said Egypt’s crude oil production has hit its highest level in nearly two years. He credited settling outstanding payments to investment partners in June with restoring confidence, attracting new capital, and accelerating exploration and production.
Sayed Selim, Executive Managing Director at the Egyptian Natural Gas Holding Company (EGAS), toured the company’s polyethylene pipe factory in Ain Sokhna. The visit aims to follow up on directives from Minister of Petroleum and Mineral Resources Karim Badawi to reduce imports and boost local content.
Drilling at the offshore Velox-1X exploration well in the North Cleopatra Block confirmed there is an active petroleum system and crude oil reserves in the area. These findings
