At the 10th Egypt Oil and Gas Foundation Conference, Petroleum Minister Karim Badawi revealed 61 lucrative investment opportunities to boost Egypt’s petroleum and gas development. He emphasized the country’s strategic strengths, including advanced infrastructure and a prime geographic location.
Badawi noted that the petroleum sector currently contributes about 1 percent to Egypt’s GDP but has the potential to expand significantly to 5–6 percent in the medium term. He also reaffirmed Egypt’s commitment to achieving its renewable energy target, aiming for 42 percent of the energy mix by 2030.
The minister underscored the importance of regional collaboration to transform aspirations into tangible results, reinforcing Egypt’s position as a regional energy hub. He emphasized the role of Egypt’s advanced infrastructure and partnerships with Cyprus and global energy companies in utilizing current and future gas discoveries, with a focus on re-export or adding value to the domestic market.
Badawi stresses the sector’s efforts to cut production costs and boost output. The Egyptian Upstream Gateway (EUG) supports these goals by offering varied investment opportunities and expanding operational areas for partners, enabling them to leverage cost-effective infrastructure.
He also underscored the government’s dedication to clearing financial obligations with partners, fostering transparency, and strengthening confidence to draw in more investments.
