All rights reserved to the presidency Copyright © 2020
Thursday, 22 May 2025 / 01:51 PM
Today, President Abdel Fattah El-Sisi met with Prime Minister, Dr. Moustafa Madbouly, and Minister of Petroleum and Mineral Resources, Eng. Karim Badawi.
Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the meeting reviewed efforts exerted to meet citizens' needs for petroleum products, as well as the status of petroleum explorations and reserves. In this regard, the Minister of Petroleum highlighted new oil and gas discoveries made between July 2024 and May 2025. The discussion also tackled preparations for the upcoming summer season. The President emphasized the necessity of taking all requisite proactive measures to ensure the stability of electricity supply, cover the needs of the electricity sector, and carry out maintenance of the electrical grid to ensure readiness and stable power supply nationwide.
The meeting also addressed the status of oil and gas contracts, in addition to efforts to increase domestic production of petroleum and gas resources, seismic survey activities across various Egyptian areas, and exploratory activity plans. Developments in activities by international companies operating in Egypt's oil and gas sectors were also discussed. Furthermore, the meeting examined the necessary steps to expand the scope of regional cooperation in the oil and gas sectors during the upcoming period, and the status of payments due to international companies. President El-Sisi gave directives to strengthen efforts toward ensuring the settlement of these dues.
The recent issue concerning gasoline was also discussed. The Minister of Petroleum affirmed that the problem was immediately addressed, and that legal and administrative measures are currently being taken against those responsible. The President emphasized the urgent need to hold those responsible accountable and take the necessary measures to ensure its non-recurrence.
The meeting also reviewed developments in the mining and mineral resources sector. This included the amendment of the Egyptian General Petroleum Corporation Law, which aims to ensure leveraging mineral resources and undertaking a comprehensive update of its organizational structure. These measures are intended to facilitate licensing procedures to attract international companies in the mining sector, thereby maximizing state revenues and localizing mining industries in Egypt. Eng. Badawi reviewed the state’s efforts to create a conducive investment environment in the field of mining and mining industries.
President El-Sisi confirmed the necessity to continue the state's efforts to enhance domestic oil and gas production. This aims to meet development and consumption needs and reduce the import bill. The President also gave directives to continue the development of newly discovered wells and their inclusion in the production map, in addition to intensifying research and exploration activities. This will lead to an increase in domestic oil and gas production and the provision of incentives to accelerate and intensify field development and production operations, as well as conducting new explorations. President El-Sisi also stressed the need to continue efforts to attract investments and eliminate any obstacles facing investors in Egypt's oil, gas, and mining sectors.
Thursday, 22 May 2025 / 01:51 PM
Today, President Abdel Fattah El-Sisi met with Prime Minister, Dr. Moustafa Madbouly, and Minister of Petroleum and Mineral Resources, Eng. Karim Badawi.
Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the meeting reviewed efforts exerted to meet citizens' needs for petroleum products, as well as the status of petroleum explorations and reserves. In this regard, the Minister of Petroleum highlighted new oil and gas discoveries made between July 2024 and May 2025. The discussion also tackled preparations for the upcoming summer season. The President emphasized the necessity of taking all requisite proactive measures to ensure the stability of electricity supply, cover the needs of the electricity sector, and carry out maintenance of the electrical grid to ensure readiness and stable power supply nationwide.
The meeting also addressed the status of oil and gas contracts, in addition to efforts to increase domestic production of petroleum and gas resources, seismic survey activities across various Egyptian areas, and exploratory activity plans. Developments in activities by international companies operating in Egypt's oil and gas sectors were also discussed. Furthermore, the meeting examined the necessary steps to expand the scope of regional cooperation in the oil and gas sectors during the upcoming period, and the status of payments due to international companies. President El-Sisi gave directives to strengthen efforts toward ensuring the settlement of these dues.
The recent issue concerning gasoline was also discussed. The Minister of Petroleum affirmed that the problem was immediately addressed, and that legal and administrative measures are currently being taken against those responsible. The President emphasized the urgent need to hold those responsible accountable and take the necessary measures to ensure its non-recurrence.
The meeting also reviewed developments in the mining and mineral resources sector. This included the amendment of the Egyptian General Petroleum Corporation Law, which aims to ensure leveraging mineral resources and undertaking a comprehensive update of its organizational structure. These measures are intended to facilitate licensing procedures to attract international companies in the mining sector, thereby maximizing state revenues and localizing mining industries in Egypt. Eng. Badawi reviewed the state’s efforts to create a conducive investment environment in the field of mining and mining industries.
President El-Sisi confirmed the necessity to continue the state's efforts to enhance domestic oil and gas production. This aims to meet development and consumption needs and reduce the import bill. The President also gave directives to continue the development of newly discovered wells and their inclusion in the production map, in addition to intensifying research and exploration activities. This will lead to an increase in domestic oil and gas production and the provision of incentives to accelerate and intensify field development and production operations, as well as conducting new explorations. President El-Sisi also stressed the need to continue efforts to attract investments and eliminate any obstacles facing investors in Egypt's oil, gas, and mining sectors.
All rights reserved to the presidency Copyright © 2020
All rights reserved to the presidency Copyright © 2020