The Board of Directors of the Egyptian General Petroleum Corporation (EGPC) met recently under the leadership of Minister of Petroleum and Mineral Resources, Karim Badawi. The meeting aimed to address key challenges and opportunities within Egypt’s oil and gas sector.
Discussions centered around strategies to ramp up investments in oil and gas exploration, development, and production. In addition, the board deliberated on critical issues related to occupational safety, environmental protection, and securing adequate financing to meet the local market’s growing demand for petroleum products and natural gas.
Minister Badawi emphasized that the meeting was part of ongoing efforts to strengthen coordination among various state entities to boost domestic production of oil and natural gas. The government’s approach includes offering investment incentives, enhancing research and exploration activities, and taking steps to increase production across the sector.
A key focus of the meeting was the timely payment of monthly dues owed to foreign partners, a move that aims to generate mutual economic benefits for Egypt and its international collaborators. Minister Badawi also underscored the importance of securing funding to cover the country’s fuel import bill and meet local market needs.
The session was attended by several high-ranking officials, including Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Hassan El-Khatib, Minister of Investment and Foreign Trade; Manal Awad, Minister of Local Development; Salah Abdel Karim, CEO of EGPC; Yasseen Mohamed, CEO of the Egyptian Natural Gas Holding Company (EGAS); and Moataz Atef, Undersecretary for the Minister’s Technical Office and Official Spokesperson of the Ministry of Petroleum and Mineral Resources.