Minister of Petroleum and Mineral Resources Karim Badawi announced an ambitious 2026 roadmap featuring the drilling of 101 exploratory wells to bolster national reserves. Speaking at an American Chamber of Commerce (AmCham) meeting, Badawi confirmed that the Ministry successfully reversed the production decline to reach stability by the end of 2025.
Bdwi emphasized that the primary goal for the coming year is to increase oil and gas production while continuing to meet domestic demand, according to a statement by the ministry. He noted that natural gas supplies have been fully secured for all national sectors since last July.
Moreover, Badawi identified private sector collaboration as a cornerstone of Egypt’s growth vision. To maintain investor confidence, the Ministry has committed to the regular payment of monthly dues to foreign partners.
Furthermore, the government has introduced flexible incentive packages designed to encourage upstream activities. These measures are paired with a strategic focus on regional connectivity, particularly strengthening energy ties with countries such as Cyprus.
Egypt is enhancing its capacity as a regional gas hub by deploying Floating Storage and Regasification Units (FSRUs). These units provide a total capacity of 2.75 billion cubic feet per day (bcf/d). This infrastructure ensures superior flexibility in securing the nation’s natural gas supplies.
In the refining sector, the Ministry is implementing major projects scheduled between 2026 and 2030 to achieve self-sufficiency. Key projects include the Middle East Oil Refinery (MIDOR) expansions, which will increase capacity to 160,000 barrels per day (bbl/d). Badawi also highlighted the Assiut National Oil Processing Company (ANOPC) diesel complex as a vital component of this transition.
Regarding the mining sector, Badawi talked about the plans targeting the increase of its contribution to the national Gross Domestic Product (GDP). The strategy leverages the mineral-rich Arabian-Nubian Shield and advanced infrastructure, including dedicated mining ports.
The Minister concluded his speech by thanking the AmCham for its positive role in driving cooperation between various industry stakeholders and all ‘partners in success’ from both international and local companies.
He praised the vital role played by workers in the petroleum and mining sectors, who represent the fundamental pillar for achieving this ambitious strategy. He emphasized that the synergy between the state and the private sector is the true guarantee for achieving prosperity and securing Egypt’s energy future.
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