Sisi Backs Mining Development Plan and Directs New Incentives for Investors
In a high-level meeting that carried clear messages about the future of Egypt’s energy and mineral resources sector, President Abdel Fattah El-Sisi met today with Prime Minister Dr. Mostafa Madbouly and Minister of Petroleum and Mineral Resources Eng. Karim Badawi to review the ministry’s strategic plan for the current phase and explore new horizons for the oil, gas, and mining industries.
Sisi Backs Mining Development Plan
During the meeting, Eng. Karim Badawi presented a comprehensive outlook for the future of Egypt’s oil and gas sector, detailing exploration and production programs and drilling plans extending to 2030.
He also outlined the ministry’s direction toward expanding both onshore and offshore exploration activities—particularly in the Mediterranean, now considered one of the region’s most promising gas basins.
The minister explained that the strategy includes an intensive drilling program from 2026 to 2030 aimed at boosting proven reserves and gradually increasing production levels, contributing to greater reliance on domestic output and reducing the national import bill.
The presentation also covered the latest developments in the mining sector, highlighting its substantial potential and vast geological reserves that pave the way for significant investment expansion.
The minister reviewed the key reforms implemented in recent months to address long-standing challenges, foremost among them the issuance of a law transforming the Egyptian Mineral Resources Authority into an economic public authority, and the development of a more competitive investment model designed to attract both major international companies and emerging explorers.
He noted that the recent reform measures have already begun attracting growing investor interest, with ongoing efforts to enhance transparency, improve the investment climate, and address the sector’s financial and technical constraints.
On offshore exploration, the minister reviewed the 2026 plan, including the number of planned wells in the Mediterranean, projected investment costs, expected oil and gas reserves, and the potential savings on Egypt’s gas import bill once these wells come online.
He also discussed the progress of the seismic survey program for 2025 and the planned activities for 2026, describing it as a foundational tool for identifying new prospects in deep-water areas.
The minister further highlighted trends in natural gas production from July 2024 to October 2025, along with the ministry’s strategy to diversify supply sources, enhance operational efficiency, and ensure a stable flow of gas to the domestic market, electricity sector, and industry—maintaining balance between consumption needs and economic growth.
According to the Presidential Spokesman, the minister also briefed the President on his recent participation in the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), where Egypt maintained a strong presence to promote investment opportunities in one of the world’s largest energy platforms.
The minister’s meetings with major global companies focused on Egypt’s core energy priorities and emphasized the importance of regional cooperation as a key pillar for energy security and market stability.
President El-Sisi directed the government to intensify efforts to expand exploration in all regions, build on successful experiences from recent years, and provide additional incentives and facilitations to attract investors to the oil, gas, and mining sectors.
He also underscored the importance of deepening local manufacturing in these vital industries to maximize value added, meet growing development needs, and position Egypt as a leading player on the global energy landscape.
