Ambassador Mohamed El-Shenawy, official spokesperson for the
Presidency, stated that the meeting focused on the strategic plan and main
priorities of the Ministry of Petroleum and Mineral Resources, particularly
production and exploration activities, as well as efforts to strengthen the
mining sector and increase its added value.
Karim Badawi presented the Ministry’s plan for exploratory
drilling from 2026 to 2030. He also reviewed developments in Egypt’s mining
sector, highlighting geological reserves, investment potential, and sector
challenges. Measures to overcome these challenges include converting the
Mineral Resources Authority into a public economic authority, establishing a
competitive model to attract investors, and addressing financial and investment
obstacles.
The meeting addressed efforts to expand onshore and offshore
oil and gas exploration, including incentives for exploration companies. The
President called for intensified exploration and leveraging successful
experiences. The Minister outlined planned Mediterranean drilling activities in
2026, covering the number of wells, investment costs, expected reserves,
production rates, and projected savings on the import bill.
He also reviewed seismic survey plans for 2025 and 2026, as
well as natural gas production from July 2024 to October 2025, including plans
to diversify supply sources.
The spokesperson noted that Engineer Badawi reported on his
recent participation in the Abu Dhabi International Petroleum Exhibition and
Conference (ADIPEC), emphasizing Egypt’s active presence in global energy
forums and promotion of investment opportunities to international companies.
The Minister highlighted priorities for Egypt’s energy sector and the
importance of regional cooperation in ensuring energy security.
El-Sisi stressed the need to provide additional incentives
and facilities for investors in oil, gas, and mining sectors, aiming to boost
investments, increase production, and continue localizing industries related to
these strategic sectors.