President Abdel Fattah El-Sisi underscored the importance of offering greater incentives and facilitations to investors to boost petroleum sector investments and increase production to meet the country’s growing consumption and development needs.
The President’s remarks came during a meeting with Prime Minister Mustafa Madbouli and Petroleum and Mineral Resources Minister Karim Badawi, Presidential Spokesman Mohammad El-Shennawi said in a statement.
The petroleum minister reviewed updates in the mining sector and mechanisms to attract foreign investments, as well as the outcomes of his participation in the International Mining Conference recently held in Australia.
He also outlined the ministry’s current priorities, including new discoveries and agreements, progress in ongoing projects, and production levels of crude oil and natural gas between July 2024 and August 2025.
Discussions further addressed efforts to strengthen domestic production of petroleum and gas resources, alongside infrastructure upgrades to ensure sufficient gas supplies for the local market.
The minister presented developments in Egypt’s strategy to become a regional energy hub and the principles of the Integrated Sustainable Energy Strategy 2040, highlighting the growing interest of international companies in investing in Egypt’s energy sector.
President Sisi emphasized the necessity of settling dues owed to foreign companies operating in Egypt and fulfilling all obligations, noting this was essential to bolstering Egypt’s credibility and consolidating investor confidence.
Source: The Egyptian Gazette
