As part of the Ministry of Petroleum and Mineral Resources’ commitment to strengthening partnerships with foreign partners, Eng. Karim Badawi, Minister of Petroleum and Mineral Resources, held a broad meeting with several heads and representatives of international oil, gas, petrochemical, and mining companies operating in Egypt. The meeting reviewed the current challenges and the achievements made in recent periods, emphasizing the importance of joint efforts to accelerate progress toward further development and sustainability.

The Minister began his speech by expressing his gratitude to the partners for their continuous support and effective contribution to the sector’s development. He explained that joint efforts with partners have helped reduce the decline in gas production rates, achieve stability, and start the journey toward restoring high production levels. He stressed the state’s commitment, under the directives of President Abdel Fattah El-Sisi, to regularly settle the partners’ dues over the past months and continue monthly payments, which enhances confidence in the Egyptian market and encourages further investment inflows.

The Minister added that recent months witnessed positive developments, including the launch of seismic surveys with approved exploration commitments, as well as Egypt’s success in preparing and operating floating storage and regasification units, enabling the country to meet peak summer demand without power cuts or load reductions.

On another note, the Minister explained that the petrochemical sector offers significant investment opportunities, whether through existing projects or new partnerships. He highlighted this sector as a promising field for international companies looking to expand and increase their investments in Egypt. The Ministry is paying close attention to this vital sector by ensuring adequate natural gas supply, contributing to higher exports and sustainable economic returns for the state, while continuing to meet export commitments.

He further noted that the mining sector is gaining increasing global momentum as one of the main contributors to GDP, pointing out that the Sukari gold mine is considered a flagship of Egypt’s mining sector and one of the world’s leading mines.

During the meeting, several industry officials presented key performance indicators in areas such as health, safety, and environment (HSE), energy efficiency, climate and sustainability, drilling and production, as well as agreements and exploration.

The Minister concluded his remarks by emphasizing the importance of ongoing partnerships with foreign partners to achieve shared objectives. He also invited all partners to participate in the Safety Day scheduled for September and the upcoming EGYPS 2026 Conference, which serves as a central platform for exchanging ideas, visions, and enhancing cooperation.