Egypt has fully settled all outstanding dues owed to foreign oil and gas production partners, reducing arrears from about $6.1 billion in June 2024 to zero, the Ministry of Petroleum and Mineral Resources announced on Wednesday, June 10, 2026. The ministry said the achievement, realized in coordination with relevant state bodies, reflects Egypt’s commitment to meeting its financial obligations, strengthens investor confidence in the country’s business climate, and supports efforts to attract further investment into the energy sector.
The move is considered one of the petroleum sector’s most significant accomplishments in recent years and comes in line with directives from President Abdel Fattah El Sisi to settle partners’ dues, maintain mutual trust, and encourage exploration, development and production activities, while reinforcing Egypt’s position as a regional energy hub.
The issue received close and continuous attention from President El-Sisi, who repeatedly stressed the importance of honoring commitments to foreign partners as a key factor in enhancing investment attractiveness, ensuring sector stability, and encouraging international companies to expand their operations in Egypt.
The president also directed the creation of a more attractive investment environment for the oil and gas industry through incentives that support exploration and production, contributing to higher output and better utilization of the country’s natural resources.
Prime Minister Mostafa Madbouly confirmed that all arrears owed to foreign investment partners in the oil and gas sector had been paid despite challenges arising from regional developments, particularly higher fuel prices. He said Egypt had fully met its obligations and reduced the outstanding balance to zero through continuous presidential support and government coordination, in cooperation with the Central Bank of Egypt and relevant authorities.
Madbouly described the achievement as a strong message to current and prospective investors that Egypt remains committed to supporting investment, safeguarding strategic partnerships, and providing a business environment that serves the interests of both the state and investors.
He expressed confidence that the move would help attract additional investments, support new discoveries and development projects, strengthen energy security, and contribute to economic growth in the coming years. Egypt advises citizens to postpone travel to Ebola-hit regions amid global alert Egypt advises citizens to postpone travel to Ebola-hit regions amid global alert