Minister of Petroleum and Mineral Resources Karim Badawi met with Cypriot Energy Minister Michael Damianos, East Mediterranean Gas Forum Secretary-General Osama Mobarez and executives of international oil and gas companies operating in Egypt to discuss ways to accelerate investment and increase production.
The meeting took place during a roundtable titled “The Future of Energy in Egypt,” held on Wednesday, October 21, 2026, as part of the Mediterranean Offshore Conference and Exhibition (MOC). Discussions focused on accelerating the development of discoveries and connecting them to existing infrastructure, maximizing the economic returns from oil and gas resources, strengthening regional cooperation and consolidating Egypt’s position as a regional hub for energy trading and trade.
Badawi said partnerships with investors were based on mutual interests, stressing that the success of companies operating in Egypt translates into success for the country’s oil and gas sector and the Egyptian state. He affirmed the ministry’s commitment to addressing challenges facing its partners and providing the necessary conditions for expanding investments to generate sustainable economic returns for all parties.
The minister said declining production had been one of the sector’s most significant challenges, requiring efforts to stimulate investment, accelerate exploration and development activities and improve operational efficiency. He stressed that the ministry was focused on strengthening cooperation with partners, addressing factors affecting production and establishing more sustainable foundations for growth in the coming years.
Badawi added that the current phase required more effective partnerships through direct dialogue with companies to identify their needs and proposals, determine measures to accelerate investment decisions and project implementation and enhance the competitiveness of investment in Egypt’s oil and gas sector.
He also highlighted the importance of regional cooperation among Eastern Mediterranean countries and leveraging available resources and existing infrastructure to generate greater economic value from discovered gas reserves and support the development of new resources.
Egypt has significant advantages that position it to play an increasingly central role in the regional energy system, Badawi said, citing its advanced natural gas infrastructure, transportation networks, gas reception and trading facilities and liquefaction capabilities, as well as its strategic location linking production areas with consumer markets.
The ministry is looking to work with its partners to maximize the economic benefits of these assets and facilities, reducing project costs, improving efficiency and enhancing investment viability, he added. For his part, Mobarez said Egypt’s energy future was closely linked to the future of regional cooperation, given the Eastern Mediterranean’s discovered natural gas resources and promising potential, which require increased investment and the development of infrastructure to unlock their value.
The main challenge, he said, lies in accessing these resources and converting them into sustainable economic value by developing viable projects, accelerating the development of discoveries and connecting them to target markets.