Al-Sisi Directs Settlement Of Oil Firm Dues, Urges More Investment In Energy

(MENAFN- Daily News Egypt) President Abdel Fattah Al-Sisi held a high-level meeting on Sunday with Prime Minister Mostafa Madbouly and Minister of Petroleum and Mineral Resources Karim Badawy to review the latest developments in Egypt's energy and mining sectors, with a focus on boosting foreign investment and enhancing energy security.

According to a presidential statement, the meeting included a comprehensive review of the sector's performance, progress on new projects, and Egypt's long-term strategy to position itself as a regional energy hub.

Presidential spokesperson Mohamed El-Shenawy said Minister Badawy briefed the president on the outcomes of his recent participation in the International Mining Conference in Australia, held earlier in September. The minister also presented updates on new discoveries, exploration agreements, and the status of ongoing petroleum and gas projects.

Badawy reported that Egypt's crude oil and natural gas output remained stable between July 2024 and August 2025, supported by recent infrastructure upgrades aimed at ensuring reliable gas supplies for the domestic market. He outlined efforts to increase local production and further develop Egypt's energy resources through intensified exploration and technological modernization.

The minister highlighted ongoing progress in implementing Egypt's integrated and sustainable energy strategy through 2040, and reiterated the country's ambition to serve as a key energy hub for the region. He noted growing activity by international energy companies, which he said reflects rising confidence in Egypt's investment climate and the sector's potential.

President Al-Sisi emphasized the importance of providing additional incentives and streamlined procedures to attract more foreign investment into the oil and gas sector. He also ordered the full repayment of dues owed to foreign energy companies, reaffirming Egypt's commitment to honoring its financial obligations and reinforcing trust in the business environment.

The president directed the government to accelerate the development of newly discovered wells, ensure their timely integration into production, and expand exploration activities in both conventional and unconventional resource areas. These steps, he said, are critical to strengthening Egypt's energy independence and consolidating its position as a regional energy powerhouse.

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