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Egypt holds talks on boosting oil and gas production

10 July 2024

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Egypt’s Minister of Petroleum and Mineral Resources, Karim Badawi, has met with senior officials from the ministry and the Egyptian General Petroleum Corporation (EGPC), as well as figures from the private sector, to discuss strategies for increasing oil and gas production.

On 8 July, officials from Houston-headquartered Apache met with Badawi, according to statements released by the US company and Egypt’s oil and gas ministry.

In the meeting, Apache’s activities in the Western Sahara in Egypt and its plans during the coming period to increase the production of natural gas were discussed.

Badawi said that increasing Egypt’s production of natural gas and crude oil is a “top priority”.

He also said that both Apache and the Egyptian authorities were committed to achieving common goals in areas that included research and exploration, energy efficiency, emissions reduction, carbon removal, occupational safety and health, training and the deployment of advanced technologies.

Also on 8 July, Badawi met with officials from Italy’s Eni, which is the largest foreign investor in the North African country’s energy sector.

During the meeting, Eni's chief operating officer confirmed the company’s commitment to developing Egypt’s oil and gas sector and said that it plans to implement well drilling programmes in several fields to increase production.

Officials from the ministry and EGPC met on 7 July to discuss addressing challenges in the sector, including declining production rates at existing fields.

Discussions aimed to identify key areas for action, enhance field productivity and secure new discoveries, according to a statement released by the oil and gas ministry.

During this meeting, Badawi highlighted the critical role of oil and gas resources in meeting Egypt’s energy needs, particularly for electricity generation and driving economic growth.

He also emphasised the importance of collaboration and utilising expertise to overcome production decline and restore growth.

Earlier this month, Egypt’s Prime Minister Mostafa Madbouly announced the appointment of Karim Badawi as Egypt’s new minister of petroleum and mineral resources, replacing Tarek El-Molla.

The appointment was part of a new cabinet formed by Madbouly, who was reappointed as prime minister by President Abdel-Fattah Al-Sisi following the previous government's resignation.

The cabinet reshuffle was the fourth under Madbouly, who has served as premier since June 2018.

Al-Sisi, recently elected for a third term in December 2023, began his new term in April.

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Wil Crisp

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