الرئيسية / news / Ministry of Petroleum prioritizes payment of partner dues

Ministry of Petroleum prioritizes payment of partner dues

فريق رجال الأعمال news 17 June 2025 01:25 PM
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Ministry of Petroleum prioritizes payment of partner dues

Minister of Petroleum and Mineral Resources, Engineer Karim Badawy, affirmed that the ministry's strategy hinges on six main pillars, including attracting more investment and intensifying exploration and production activities. This involves offering investment incentives to partners and ensuring timely payment of their dues, an approach that has "significantly enhanced confidence" and revitalized oil and gas exploration, drilling, and production.

The renewed focus aims to boost local output and consequently reduce Egypt's import bill. The strategy also prioritizes leveraging modern technology and innovative solutions to further increase production.

Badawy's remarks came during a meeting with prominent Egyptian newspaper columnists, editors-in-chief, and economic and petroleum experts at the ministry's headquarters in the New Administrative Capital.

During the session, the minister presented the ministry's current vision and operational strategy, highlighting core objectives. He addressed recent developments in the oil, gas, and mining sectors, as well as the considerable challenges posed by global economic shifts. Badawy detailed the measures and solutions adopted by the ministry to mitigate these challenges, emphasizing an integrated approach with other government ministries, parliament, and investment partners.

The meeting featured an interactive dialogue, where journalists and experts offered insights and suggestions for maximizing the vital sector's contribution to oil, gas, and mineral wealth production, acknowledging the efforts of its workforce.

Badawy responded to questions regarding the sector's challenges and the solutions being implemented. He underscored the importance of publicly highlighting the dedication of workers at oil, gas, and mineral production sites.

The minister commended the crucial role of Egyptian media in raising awareness about energy issues, their complexities, and in conveying accurate information, especially during difficult times. He stressed the media's role in reflecting the true extent of efforts by those working in production, thereby showcasing the sector's authentic image.

The attending journalists and experts thanked the minister for the meeting and his comprehensive explanations regarding the oil, gas, and mining industries, as well as his positive engagement with their suggestions and inquiries.

Notable attendees included Abdel Mohsen Salama, former Chairman of Al-Ahram Foundation,  Hamdy Rizk, former Editor-in-Chief of Al-Mussawar Magazine, Emad El-Din Hussein, Editor-in-Chief of Al-Shorouk Newspaper, Alaa Al-Ghatrifi, Editor-in-Chief of Al-Masry Al-Youm Newspaper, Dr. Ahmed Mokhtar, former Undersecretary of the National Press Authority,  Ahmed Sabreen, journalist at Al-Ahram, Dr. Medhat Nafea, Professor of Economics, Dr. Ramadan Aboul-Ela, Professor of Petroleum Engineering and Energy, and Dr. Gamal El-Qaliouby, Professor of Petroleum Engineering and Energy.

Several ministry officials were also present, including Engineer Ihab Regai, First Undersecretary of the Ministry for Production, Engineer Moataz Atef, Undersecretary of the Ministry for the Minister's Office and Technical Office and Official Spokesperson, Dr. Samir Rasslan, Undersecretary of the Ministry for Agreements and Exploration, Engineer Salah Abdelkarim, CEO of the Egyptian General Petroleum Corporation, Engineer Ibrahim Mekky, Chairman of the Egyptian Petrochemicals Holding Company, Engineer Ashraf Bahaa El-Din, Chairman of South Valley Egyptian Petroleum Holding Company, and Geologist Yasser Ramadan, Chairman of the Egyptian Mineral Resources Authority and Mining Industries.