Egypt’s Sisi reviews energy, mining strategy with Cabinet officials

President Abdel Fattah El-Sisi met on Saturday with Prime Minister Moustafa Madbouly and Petroleum Minister Karim Badawy to review Egypt’s strategic roadmap for the energy and mining sectors, the presidency said.

The meeting focused on production and exploration activities, strengthening the mining sector, and boosting its added value. Sisi stressed the importance of providing additional incentives and facilities for investors in oil, gas, and mining to increase investment volumes, expand production to meet growing domestic and developmental demand, and promote local industries linked to these strategic sectors.

Badawy presented the ministry’s exploratory drilling plan for 2026–2030, alongside developments in the mining sector. Measures under consideration include converting the Egyptian Mineral Resources Authority (EMRA) into a public economic authority, establishing a competitive framework to attract both major and emerging investors, and addressing financial and investment obstacles in the sector.

The discussion also covered plans to expand onshore and offshore oil and gas exploration, with incentives aimed at positioning Egypt as a top destination for energy investment. Sisi directed authorities to intensify exploration efforts, building on prior successful initiatives.

Badawy outlined Mediterranean exploratory drilling plans for 2026, including projected wells, investment costs, anticipated reserves, production rates, and expected annual import savings. He also reviewed seismic survey developments for 2025 and 2026, as well as natural gas production rates from July 2024 to October 2025.

The minister highlighted his recent participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), noting Egypt’s active engagement in global energy forums and efforts to promote investment opportunities to international companies.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser