Egypt, Baker Hughes discuss expanding energy cooperation

Egypt’s Minister of Petroleum and Mineral Resources, Engineer Karim Badawy held on Sunday a high-level meeting with Lorenzo Simonelli, CEO of Baker Hughes, to discuss expanding cooperation in the oil, gas, and renewable energy sectors.

The meeting highlighted Baker Hughes’ ongoing projects in Egypt’s oil and gas sector and the company’s future business development plans. A key focus of the talks was maximising production from mature fields through enhanced private sector collaboration. The minister emphasised that Egypt Upstream Gateway (EUG) has become a valuable tool for attracting investment, offering significant opportunities for both local and international companies.

The discussions also touched on energy transition initiatives, including emissions reduction, flare gas recovery, and the integration of geothermal energy as part of Egypt’s strategy to diversify its energy mix. Minister Badawy reiterated the government’s commitment to ensuring a sustainable supply of fuel and natural gas for the local market, either by boosting domestic production or leveraging Egypt’s position as a regional energy hub. He pointed out that Egypt’s advanced infrastructure allows for efficient export of natural gas while also meeting domestic demand.

Simonelli revealed that Baker Hughes is actively exploring geothermal energy projects in key regions, including the Gulf of Suez, Sinai, and the Eastern Desert.

Additionally, he also revealed ongoing coordination with industry partners to prioritise new and renewable energy projects. He noted that with the increasing global focus on energy efficiency and sustainability, Egypt is well-positioned to attract significant investments in these fields. He praised Egypt’s strategic potential in renewable energy and reaffirmed Baker Hughes’ commitment to supporting the country’s ambitious energy transition goals.

Attribution: Amwal Al Ghad English