Sisi directs settlement of energy sector dues to boost production

Egypt’s President Abdel Fattah El Sisi directed the continued commitment to settling dues owed to petroleum and gas companies operating in the country and fulfilling obligations towards them.

During a meeting on Sunday with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawi, Minister Badawi reviewed the status of exploration and drilling efforts, particularly in the Fayoum 5 oil and gas field in the King Mariout area, as part of ongoing efforts to strengthen Egypt’s petroleum and gas reserves. In this context, Minister Badawi outlined several recently agreements that have played a key role in enhancing exploration activities.

Moreover, the president stressed the importance of intensifying new exploration projects, reaffirming the state’s commitment to providing the necessary incentives to facilitate field development. He also emphasised the need to expand production and exploration operations while attracting foreign investment to meet the growing domestic demand for petroleum products and gas.

Additionally, discussions covered preparations for the summer season, with the minister presenting an update on the strategic stockpile of petroleum products. He noted that increasing local production in the coming period would not only help bolster reserves but also ensure a stable supply for consumers.

Furthermore, the meeting addressed energy cooperation with Cyprus, particularly efforts to maximise the benefits of discovered gas reserves in the Cronos and Aphrodite fields within Cyprus’ exclusive economic zone. In this regard, the planned transfer of Cypriot gas to Egypt is expected to leverage the country’s infrastructure for both domestic use and liquefaction before export to global markets.

The meeting tackled energy collaboration with Saudi Arabia, specifically following up on the implementation of the memorandum of understanding signed between both countries during The Egypt Energy Show (EGYPES 2025) in Cairo.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama