Petroleum Minister Reviews Investment Drive Through Egypt Upstream Gateway

(MENAFN- Daily News Egypt) Karim Badawi, Minister of Petroleum and Mineral Resources, held a meeting with the team behind the Egypt Upstream Gateway (EUG) to review ongoing efforts to attract investment in the upstream sector. The session aligns with the ministry's strategic focus on accelerating exploration and production activities to meet growing domestic energy needs.

The meeting was attended by Samir Raslan, the Petroleum Deputy Minister for Agreements and Exploration; Mohamed Radwan, Vice President of South Valley Egyptian Petroleum Holding Company (Ganope) and Director of the EUG; and Claudio Leone, Project Manager at Schlumberger.

Minister Badawi underscored the EUG's critical role as the ministry's official digital investment platform. He emphasized its function in promoting investment opportunities and providing data-driven insights, supported by advanced technologies and analytical tools, to facilitate informed decision-making for investors. The Minister also directed that the platform's investment map be continuously updated to include new exploration prospects.

Mohamed Radwan presented the EUG's achievements since its launch in February 2021, in partnership with Schlumberger. He noted that 47 companies are currently registered on the platform, and that the gateway has helped attract over $1.2bn in investments for the drilling of 127 wells across 51 blocks. He also highlighted the team's work in delivering timely and actionable support to investors.

Claudio Leoni shared Schlumberger's vision for further developing the platform, including planned upgrades to its digital infrastructure and integration of cutting-edge technologies to enhance user experience and data accessibility.

MENAFN12082025000153011029ID1109918923