The meeting was part of the ministry’s ongoing efforts to strengthen partnerships and attract new investments to the sector.
During the session, Badawi reviewed developments in the
investment climate in Egypt’s oil and gas sector, including implemented reforms
and incentives. He also presented additional investment opportunities,
highlighting their positive impact on increasing investment flows and boosting
production rates. The minister discussed ongoing cooperation with several
American companies, showcasing their success stories in Egypt, and emphasized
the importance of expanding Egyptian-American investments and partnerships,
transferring knowledge, localizing technology, and supporting financing
mechanisms.
He added that the ministry aims to deepen partnerships with
U.S. companies and create a supportive environment for their expansion and
increased production in Egypt.
In a separate meeting with Chevron leadership, discussions
focused on ongoing cooperation and coordination between both sides’ teams to
finalize technical and commercial agreements for connecting the Cypriot
Aphrodite gas field project to Egypt’s infrastructure, thereby accelerating
implementation.
The meeting included Basil Allam, Chevron’s Country Manager for
Cyprus, and via video conference, Javier La Rosa, President of Chevron
Exploration and Production, and Channa Kurukulasuriya, Chevron’s Country
Manager for Egypt. Also participating were Dr. Samir Raslan, Undersecretary of
the Ministry for Agreements and Exploration, and Dr. Mohamed El-Bagoury, Head
of the Central Administration for Legal Affairs at the Ministry.
The discussions highlighted the importance of continued
coordination with the Cypriot side to support implementation steps. They also
emphasized Egypt’s pivotal role as a regional energy hub and the strategic
importance of its infrastructure, ensuring mutual benefits for Egypt, Cyprus,
and investment partners.
It was agreed to hold a stakeholders’ meeting in Cairo at
the end of March, coinciding with the opening of the Egypt International Energy
Conference and Exhibition (EGYPS 2026).